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The Aggregate Production Function and the Measurement of Technical Change
‘Not Even Wrong’
Jesus Felipe
and
John S.L. McCombie
This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics.
Monograph Book
Published in print:
31 Oct 2013
ISBN:
9781840642551
eISBN:
9781782549680
DOI:
https://doi.org/10.4337/9781782549680
Pages:
400
Collection:
Economics 2013
Table of contents
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01 Front Matter
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01 Copyright
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01 Contents
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01 Prologue: ‘Not even wrong’
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01 Acknowledgements
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01 Introduction
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Chapter 1: Some problems with the aggregate production function
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Chapter 2: The aggregate production function: behavioural relationship or accounting identity?
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Chapter 3: Simulation studies, the aggregate production function and the accounting identity
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Chapter 4: ‘Are there laws of production?’ The work of Cobb and Douglas and its early reception
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Chapter 5: Solow’s ‘Technical Change and the Aggregate Production Function’, and the accounting identity
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Chapter 6: What does total factor productivity actually measure? Further observations on the Solow model
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Chapter 7: Why are some countries richer than others? A sceptical view of Mankiw–Romer–Weil’s test of the neoclassical growth model
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Chapter 8: Some problems with the neoclassical dual- sector growth model
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Chapter 9: Is capital special? The role of the growth of capital and its externality effect in economic growth
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Chapter 10: Problems posed by the accounting identity for the estimation of the degree of market power and the mark-up
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Chapter 11: Are estimates of labour demand functions mere statistical artefacts?
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Chapter 12: Why have criticisms of the aggregate production function generally been ignored? On further misunderstandings and misinterpretations of the implications of the accounting identity
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01 References
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01 Index
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Table of Contents
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