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Abstracts

XXIII conference

Estimation of the US manufacturing industry’s investment rate dynamics of early in twentieth century

Lebedev V.V., Lebedev K.V.1

Ryazansky prospect, 99. 109542, Moscow, Russia,

1Antonova-Ovseenko St. 13, Bldg. 1, 123995, Moscow, Russia

1 pp. (accepted)

The report outlines the results of the spline analysis of statistical data of U.S. manufacturing industry for 1899 – 1922. 1. It is shown that the elasticity coefficient of Cobb-Douglas production function is essentially depends on time. 2. There are few periods when the coefficient of elasticity is relatively constant. 3. The construction problem of a piecewise constant functions which approximates the rate of investment (savings rate) is solved. The calculations allowed to find the periods when the rate of investment is relatively constant. The work is accomplished with financial support of RFBR (grant No. 13-06-00389).



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