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On Hsings Critique Of Solows Technical Change And The Aggregate
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Book Synopsis On Hsing's Critique of Solow's 'Technical Change and the Aggregate by : J. S. L. McCombie
Download or read book On Hsing's Critique of Solow's 'Technical Change and the Aggregate written by J. S. L. McCombie and published by . This book was released on 1995 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Aggregate Production Function and the Measurement of Technical Change by : Jesus Felipe
Download or read book The Aggregate Production Function and the Measurement of Technical Change written by Jesus Felipe and published by Edward Elgar Publishing. This book was released on 2013-10-31 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics.
Book Synopsis Technical Change and the Aggregate Production Function by : Robert Merton Solow
Download or read book Technical Change and the Aggregate Production Function written by Robert Merton Solow and published by . This book was released on 1956 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Aggregate Production Function and the Measurement of Technical Change by : Jesus Felipe
Download or read book The Aggregate Production Function and the Measurement of Technical Change written by Jesus Felipe and published by Edward Elgar Pub. This book was released on 2013 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis On the Theory and Measurement of Technological Change by : Murray Brown
Download or read book On the Theory and Measurement of Technological Change written by Murray Brown and published by . This book was released on 1966 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On The Thoery and Measurement of Technoloical Change by :
Download or read book On The Thoery and Measurement of Technoloical Change written by and published by CUP Archive. This book was released on with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Examination of the Solow Type Aggregate Production Function Growth Model Incorporating Technological Change by : Aubrey White Bogle
Download or read book An Examination of the Solow Type Aggregate Production Function Growth Model Incorporating Technological Change written by Aubrey White Bogle and published by . This book was released on 1971 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Measurement of Aggregate Production Functions by : Muhuan Xing
Download or read book On the Measurement of Aggregate Production Functions written by Muhuan Xing and published by . This book was released on 1990 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 邢慕寰先生學術論文集 written by 邢慕寰 and published by . This book was released on 2002 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Routledge Handbook of Politics and Technology by : Ulrich Hilpert
Download or read book Routledge Handbook of Politics and Technology written by Ulrich Hilpert and published by Routledge. This book was released on 2015-10-05 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook provides a comprehensive global survey of the politics of technology. Written by an outstanding line up of distinguished scholars in the field, the handbook covers all aspects of the relationship between politics and technology including: Demand and support for new technologies and innovation by the state The effects of technology policies Technology development and innovation difference between various countries and regions Policy instruments and techno-industrial innovation Dynamism and change as outcomes of government policies Driving forces for science and innovative development Forming the basis of this handbook are examples of regional development, country studies and a rich variety of technologies, as well as topical issues such as divergent political interests in relation to technology and the economic exploitation of technologies. Employing a comparative and interdisciplinary approach in order to analyse the interplay between government activities and the development of new technologies, this handbook will be an invaluable resource for all students, scholars and practitioners working in the politics of technology, public policy and policy analysis.
Book Synopsis How Saline is the Solow Residual? Debating Real Business Cycles in the 1980s and 1990s by : Aurélien Saïdi
Download or read book How Saline is the Solow Residual? Debating Real Business Cycles in the 1980s and 1990s written by Aurélien Saïdi and published by . This book was released on 2018 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a 1957 paper, Robert Solow exploited the mathematical properties of the aggregate production function to isolate the role of disembodied “technical change” in economic growth. Solow's method allowed to disentangle the role of technical change from that of production factors, with the residual serving as a measure of total factor productivity growth. His method and results were equally met with praise and criticism, some focused on the use of an aggregate production function, the residual composition and measurement errors. The interrogations around the residual gave rise to an abundant literature from the late 1950s which made it possible to improve the technique of calculation and refine the results. In this paper, I argue that in the 1980s, debates around the Solow residual were not essentially different from those which took place in the 1950s and 1960s (measurement issues, increasing returns to scale or procyclical productivity). They both have blossomed within the National Bureau of Economic Research (NBER), they both highlight and are central to the macroeconomics controversies of the decade and its resolution in a 1990s consensus. Though, these debates have been accompanied by a change in the “epistemic status of shocks” (Duarte and Hoover 2009, 228) in economics, which redesigned the Solow residual from a source of secular growth to be quantified to the initial impulse of short-term economic fluctuations. I allege that it was the ability to decompose the residual theoretically and empirically that made it a weapon in the war between those believed the business cycle was driven by supply-side factors (Freshwater) vs demand-side factors (Saltwater).
Book Synopsis Biased Technical Change and the Aggregate Production Function by : Thomas R. Michl
Download or read book Biased Technical Change and the Aggregate Production Function written by Thomas R. Michl and published by . This book was released on 1996 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamizing Stability by : Marcel J. Boumans
Download or read book Dynamizing Stability written by Marcel J. Boumans and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article aims to show the mathematical contexts out of which emerged Solow's 1957 article "Technical Change and the Aggregate Production Function." In particular, it seeks to provide some understanding of its most striking feature, namely, the highly aggregate level on which technical change is discussed and the simple way in which it is represented. The approach is similar to Weintraub's (1991) contextualization of Samuelson's Foundations of Economic Analysis (1947), but it will map out the two mathematical contexts in which Solow's 1957 article can be located. Samuelson's concepts of stability provided Solow the tools for the aggregation of technical change. However, Samuelson's concepts were defined in relation to static equilibrium and not to growth. To arrive at his 1957 representation of technical change, Solow successfully applied P. H. Leslie's concepts and tools of population mathematics. The main mathematical concepts around which this development is described are eigenvalue and eigenvector. It is by the use of these two concepts that aggregation of input-output tables was made feasible.
Book Synopsis British Reports, Translations and Theses by : British Library. Document Supply Centre
Download or read book British Reports, Translations and Theses written by British Library. Document Supply Centre and published by . This book was released on 1996 with total page 908 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contents of Recent Economics Journals by :
Download or read book Contents of Recent Economics Journals written by and published by . This book was released on 1996-01-12 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Index of Economic Articles in Journals and Collective Volumes by : American Economic Association
Download or read book Index of Economic Articles in Journals and Collective Volumes written by American Economic Association and published by . This book was released on 1994 with total page 1462 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Index of Economic Articles in Journals and Collective Volumes by :
Download or read book Index of Economic Articles in Journals and Collective Volumes written by and published by . This book was released on 2003 with total page 1552 pages. Available in PDF, EPUB and Kindle. Book excerpt: