706 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28
TABLE VII — The exponential model and the empirical data
(§ 320 to 325

{. ESTIMATES OF THE MODEL’S PARAMATERS
Estimates of ®_ (§ 321)

©, = - 77
=

(321-1)

United States - Great Britain

1 NCE

QT?

4.41

\vera
of
=

United
States

"Ce

4-34
4.71
3.64
4.12

, era£g

IRSO-IC

1

EMPIRICAL JUSTIFICATION OF THE EXPONENTIAL MODEL
2. Justification with respect to the hypotheses
Hypothesis d) - Exponential decrease of the production
elasticities ($ 322).
2. Justification with respect to the consequences
a) and b) small changes of y at a given time for the
various countries and over time for a given country
($323 and 324)
y=0,/1+0

(323-1)

‘rage 3.46 |
countries): 3.54 |
c) Approximate constanr - of CR, at a given time as
between countries (

34
World (median of 48 estimates

Cle) o
R,(¢)
4) Exponential amortization of primary income ($ 326)

(325-1) and (325-3)

1 _8
tO) =e ©
e) The relation between (6) and the composition of the
labor force ($ 330 to 336).