Aggregation: Aggregate Production Functions and Related Topics

Franklin M. Fisher

ISBN 10: 0745011446 / ISBN 13: 9780745011448

Published by Prentice-Hall, 1992

About this Item

Ancien livre de bibliothèque avec équipements. Couverture différente. Edition 1992. Ammareal reverse jusqu'à 15% du prix net de cet article à des organisations caritatives. ENGLISH DESCRIPTION Book Condition: Used, Good. Former library book. Different cover. Edition 1992. Ammareal gives back up to 15% of this item's net price to charity organizations.

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Bibliographic Details

• Title: Aggregation: Aggregate Production Functions and Related Topics
• Publisher: Prentice-Hall
• Publication Date: 1992
• Language: English
• ISBN 10: 0745011446
• ISBN 13: 9780745011448
• Binding: Hardcover
• Condition: Bon

About this title

Synopsis

Aggregation lies at the heart of macroeconomics. Economists using such aggregates as capital, investment, labor, and even output or GNP assume that such constructions have a sound analytic foundation. The question of the existence of aggregate production functions is not only part of the foundation of macroeconomic theory and policy but also played a central role in the "Cambridge vs. Cambridge" debate, which challenged long-held assumptions about the foundations of neoclassical microeconomics.

In this third collection of his essays Franklin M. Fisher settles the question of the conditions for the existence of aggregate production functions. He examines the conditions for approximate aggregation and, through simulation experiments, considers why aggregate production functions appear to work in practice. He also explores related topics involving price aggregation and aggregation in international trade.

Franklin M. Fisher is Professor of Economics at the Massachusetts Institute of Technology. His collected essays have been published in Essays in Theory and Applications and in Industrial Organization, Economics and the Law.

John Monz is a Ph.D. candidate in economics at MIT.

About the Author

Franklin M. Fisher is Jane Berkowitz Carlton and Dennis William Carlton Professor of Microeconomics, Emeritus, at MIT. He was the lead expert economist for the defense, assisted by John J. McGowan and Joen E. Greenwood of Charles River Associates, in the major antitrust case U.S. v. IBM. His collected essays have been published in Econometrics: Essays in Theory and Applications and in Industrial Organization, Economics and the Law.