Technical Progress, the Production Function, and Development PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Technical Progress, the Production Function, and Development PDF full book. Access full book title Technical Progress, the Production Function, and Development by Harvey Leibenstein. Download full books in PDF and EPUB format.
Author: Harvey Leibenstein
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
Get Book Here
Book Description
Author: Harvey Leibenstein
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
Get Book Here
Book Description
Author: Jesus Felipe
Publisher: Edward Elgar Publishing
ISBN: 1782549684
Category : Business & Economics
Languages : en
Pages : 400
Get Book Here
Book Description
This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics.
Author: Jesus Felipe
Publisher: Edward Elgar Pub
ISBN: 9781840642551
Category : Business & Economics
Languages : en
Pages : 388
Get Book Here
Book Description
This is an extremely important and long-awaited book. The authors provide a cogent guide to all that is wrong with the theory and empirical applications of the discredited notion of an aggregate production function. Their critique has devastating implications for orthodox macroeconomics. Anwar Shaikh, New School for Social Research, US There are none so blind as those who will not see. For decades now John McCombie and Jesus Felipe have been publishing papers which draw out the implications of the conceptual vacuousness that characterises fitting aggregate production function specifications to data to test the validity of the marginal productivity theory of distribution, a critique first developed by Henry Phelps Brown and Herbert Simon. By careful empirical and theoretical work, they have reached the conclusion that the huge literature on aggregate production functions and technical progress is not even wrong because predictions cannot be tested, that they are only variations on manipulations of national accounting identities. Perhaps this time it really will be different, the scales will fall from the professions eyes. I certainly hope so. G.C. Harcourt, Jesus College, Cambridge, UK and University of New South Wales, Australia This is a very important book. Proofs that aggregate production functions do not exist have been around for more than 50 years. This casts doubt not only on macroeconomic theory but also on empirical work and policy. Yet, this has not deterred macro-economists. The authors show in great detail that the apparent fit of such functions to value-based data is a tautology and not a proof that such aggregates exist. One hopes that the profession will finally take note. Franklin M. Fisher, Massachusetts Institute of Technology, US Felipe and McCombie have gathered all of the compelling arguments denying the existence of aggregate production functions and showing that econometric estimates based on these fail to measure what they purport to quantify: they are artefacts. Their critique, which ought to be read by any economist doing empirical work, is destructive of nearly all that is important to mainstream economics: NAIRU and potential output measures, measures of wage elasticities, of output elasticities and of total factor productivity growth. Marc Lavoie, University of Ottawa, Canada This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics. The authors explain why, despite the serious aggregation problems that surround it, aggregate production functions often give plausible statistical results. This is due to the use of constant-price value data, rather than the theoretically correct physical data, together with an underlying accounting identity that relates the data definitionally. It is in this sense that the aggregate production function is not even wrong: it is not a behavioural relationship capable of being statistically refuted. The book examines the history of the production function and shows how certain seminal works on neoclassical growth theory, labour demand functions and estimates of the mark-up, among others, suffer from this fundamental problem. The book represents a fundamental critique of the aggregate production function and will be of interest to all macroeconomists.
Author: Bambang Pramartadi
Publisher:
ISBN:
Category : Management
Languages : en
Pages : 34
Get Book Here
Book Description
This study of development theory contains an analysis of technical progress and industrial labor force absorption in a model of a closed economy. The production process for the system is described by a neoclassical production function with factor-augmenting technical change. This study is directed to the study of economic development in a low income country.
Author: A. Link
Publisher: Taylor & Francis
ISBN: 1136458085
Category : Business & Economics
Languages : en
Pages : 96
Get Book Here
Book Description
This volume reviews the literature on productivity growth and relates it to the production function approach to technological change.
Author: Mr George M Korres
Publisher: Ashgate Publishing, Ltd.
ISBN: 1409487989
Category : Business & Economics
Languages : en
Pages : 398
Get Book Here
Book Description
Technological change is not only a determinant of growth but is also a pivotal factor in international competition and the modernization of an economy. In one of the most in-depth and detailed studies of its kind, George Korres analyzes the macroeconomic and the microeconomic factors influencing the economics of innovation and the economic relations between technology, innovation, knowledge and productivity. In particular, this book examines both the theoretical framework and the applications for empirical results. This second edition contributes updated figures and estimations for technical change from EU member states and features new subjects, including growth models, productivity models, production function models and non-parametric models. In one of the most in-depth and detailed studies of its kind, this book captures all the existing contemporary techniques in the theoretical fields as well as the empirical applications of the models.
Author: A. P. Thirlwall
Publisher:
ISBN: 9780870732447
Category : Developing countries
Languages : en
Pages : 0
Get Book Here
Book Description
Author: M. V. Chari
Publisher:
ISBN:
Category :
Languages : en
Pages : 260
Get Book Here
Book Description
Author: Günter Fandel
Publisher: Springer Science & Business Media
ISBN: 3642768121
Category : Business & Economics
Languages : en
Pages : 415
Get Book Here
Book Description
Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organization of industrial manufacturing processes start from these. Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book. I am referring to findings from KOOPMANS' activity analysis and to the formulation by GUTENBERG of a production function concept that focuses on industrial production processes. Activity analysis has made it possible to develop, from a uniform approach, different types of production functions which describe the concrete principles of production in the productive sector of a business enterprise; this has created a common basis for all production concepts in business administration. The Gutenberg Production Function with its different kinds of adjustment to a changing output has opened up a flexibility to theoretical and practical considerations that gave rise to a large number of additional studies in this area. Considerations in cost theory were in particular need of considerable extensions in the direction of cost minimal combined adjustment processes. By means of the organization of its contents, this book will take both approaches into due account. In that way, it is vastly different from other books dealing with the same subject. As a matter of course, traditional analytical methods and ways of thinking also constitute a large part of the book.
Author: John Black
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
