Progress through Regression
The Life Story of the Empirical Cobb-Douglas Production Function

Recounts the history of a widely used statistical technique in economics, offering insight into how innovative research tools gain acceptance.

Jeff E. Biddle (Author)

9781108492263, Cambridge University Press

Hardback, published 12 November 2020

350 pages
24 x 16 x 3 cm, 0.92 kg

'Jeff E. Biddle has produced a remarkable book on the history of regression studies on the Cobb-Douglas production function.' Aiko Ikeo, Erasmus Journal for Philosophy and Economics

The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars.

Part I. Paul Douglas and his Regression, 1927-1948: 1. The Origins of Douglas's Production Function Research Program and his Initial Time Series Studies
2. The Douglas-Mendershausen Debate and the Cross Section Studies
3. Theoretical and Econometric Challenges of the Early 1940s, and Douglas's Final Word
Part II. The Diffusion of the Cobb-Douglas Regression: 4. Three Important Developments in the Life of the Cobb-Douglas Regression, 1952-1961
5. The Cobb-Douglas Regression in Agricultural Economics, 1944-1965
6. The Cobb-Douglas Regression as a Tool for Measuring and Explaining Economic Growth
Part III. Conclusion
7. On the Success of the Cobb-Douglas Regression
References
Index.

Subject Areas: Economic history [KCZ], Microeconomics [KCC], Economic theory & philosophy [KCA]