Aggregation: Aggregate Production Functions and Related Topics
- List Price: $52.00
- Binding: Hardcover
- Publisher: MIT Press
- Publish date: 01/01/2000
Description:
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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