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  • ISBN: 9780262061520
  • ISBN10: 026206152X

Aggregation: Aggregate Production Functions and Related Topics

by Fisher, Franklin M.

  • List Price: $52.00
  • Binding: Hardcover
  • Publisher: MIT Press
  • Publish date: 01/01/2000
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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.
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