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Production Functions and British Coal Mining

C. E. V. Leser
Econometrica 1955 23(4), 442
The method used here represents an attempt to eliminate the influence of unspecified factors on the dependent variate in multiple regression analysis. It is applied in constructing a production function for British coal mining over the period 1943-53 and in estimating the elasticities of output with regard to labour and to horsepower, the latter indicating mechanisation. The statistical and economic significance of the results is examined.