Aggregation: Aggregate Production Functions and Related Topics

Fisher, Franklin M.

ISBN 10: 0745011446 / ISBN 13: 9780745011448

Published by Harvester-Wheatsheaf, 1992

About this Item

This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,650grams, ISBN:0745011446.

Seller Inventory # 2330385

Bibliographic Details

• Title: Aggregation: Aggregate Production Functions and Related Topics
• Publisher: Harvester-Wheatsheaf
• Publication Date: 1992
• Language: English
• ISBN 10: 0745011446
• ISBN 13: 9780745011448
• Binding: Hardcover
• Condition: Good
• Weight: 650 grams
• Seller catalogs:
  • Economics

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.