Write an Empirical Investigation of the Relationship Between Forest Cover, Climate Change, and Economic GrowthPlease write 4 pages about methodology and 3 pages for the result. or 3 pages about methodology and 4 pages for the result.
Your subject is closely related to the Cobb-Douglas production function. See Equation (7) in the uploaded paper. Learn what are the parameter values and how the paper estimates or calibrates them.
You need to choose the database, “Econlit,” and search papers with “dsge” and “natural resources.” (dsge means dynamic stochastic general equilibrium.) Also you need to search “Google Scholars” with “Cobb-Douglas function” & “calibration” & “natural resources.” Your research estimates the elasticities of a Cobb-Douglas function and discuss how they change or do not change. because for the discussion, it is necessary to compare your estimations with the ones in existing litearature.
Your model is:
Y = β0 + β1 X1 + β2 X2 + β3 X3 +……..+ βn Xn + e
where Y is GDP, X1 the GHG emissions, X2 the CO2 emissions, X3 Agriculture, forestry, and fishing, value added, X4 forest cover, X5 capital stock, X6 population or labor force.
I added X5 and X6 because they are significant variables to determine the level of GDP. You cannot exclude them. All variables are logarithmic transformed, i.e. log Y, instead of Y, is used in the regression. Then, the model for the regression is a Cobb-Douglas production function. You have to survey the literature to know what parameter values are estimated or calibrated. Then you can clarify your originality and/or your findings in your research.
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