Listing 1 - 10 of 192 | << page >> |
Sort by
|
Choose an application
Production (Economic theory) --- Microeconomics --- Economic production
Choose an application
Economic production --- Production standards --- Production (Economic theory) --- Production --- Normes
Choose an application
This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.
Microeconomics --- Production (Economic theory) --- Managerial economics --- Microeconomics. --- Managerial economics.
Choose an application
Capital --- Production (Economic theory) --- Prices --- Scarcity --- Rent (Economic theory)
Choose an application
"Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This Advanced Introduction provides a comprehensive guide to the vibrant and expanding global production network (GPN) approach. Neil M. Coe deftly explores the antecedents and theoretical underpinnings of GPN analysis, as well as debates and controversies surrounding the approach and its position in wider interdisciplinary discussions. He argues overall that, during a time of profound ongoing challenges within the global economic system, the need for a GPN framework has never been more pressing."
Choose an application
'This is an extremely important and long-awaited book. The authors provide a cogent guide to all that is wrong with the theory and empirical applications of the discredited notion of an aggregate production function. Their critique has devastating implications for orthodox macroeconomics.' -- Anwar Shaikh, New School for Social Research, US. '"There are none so blind as those who will not see." For decades now John McCombie and Jesus Felipe have been publishing papers which draw out the implications of the conceptual vacuousness that characterises fitting aggregate production function specifications to data to test the validity of the marginal productivity theory of distribution, a critique first developed by Henry Phelps Brown and Herbert Simon. By careful empirical and theoretical work, they have reached the conclusion that the huge literature on aggregate production functions and technical progress is "not even wrong" because predictions cannot be tested, that they are only variations on manipulations of national accounting identities. Perhaps this time it really will be "different", the scales will fall from the profession's eyes. I certainly hope so.' -- G.C. Harcourt, Jesus College, Cambridge, UK and University of New South Wales, Australia. 'This is a very important book. Proofs that aggregate production functions do not exist have been around for more than 50 years. This casts doubt not only on macroeconomic theory but also on empirical work and policy. Yet, this has not deterred macro-economists. The authors show in great detail that the apparent "fit" of such functions to value-based data is a tautology and not a proof that such aggregates exist. One hopes that the profession will finally take note.' -- Franklin M. Fisher, Massachusetts Institute of Technology, US. 'Felipe and McCombie have gathered all of the compelling arguments denying the existence of aggregate production functions and showing that econometric estimates based on these fail to measure what they purport to quantify: they are artefacts. Their critique, which ought to be read by any economist doing empirical work, is destructive of nearly all that is important to mainstream economics: NAIRU and potential output measures, measures of wage elasticities, of output elasticities and of total factor productivity growth.' -- Marc Lavoie, University of Ottawa, Canada. This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics. The authors explain why, despite the serious aggregation problems that surround it, aggregate production functions often give plausible statistical results. This is due to the use of constant-price value data, rather than the theoretically correct physical data, together with an underlying accounting identity that relates the data definitionally. It is in this sense that the aggregate production function is 'not even wrong': it is not a behavioural relationship capable of being statistically refuted. The book examines the history of the production function and shows how certain seminal works on neoclassical growth theory, labour demand functions and estimates of the mark-up, among others, suffer from this fundamental problem. The book represents a fundamental critique of the aggregate production function and will be of interest to all macroeconomists.
Macroeconomics --- Microeconomics --- Economic growth --- Production functions (Economic theory) --- Functions, Production (Economic theory) --- Production (Economic theory) --- Economics --- Mathematical models --- E-books
Choose an application
Economic conditions. Economic development --- PRODUCTION FUNCTIONS --- Production factors (substitution elasticity) --- Production functions (Economic theory) --- congresses --- Congresses. --- -Functions, Production (Economic theory) --- Production (Economic theory) --- Economics --- Congresses --- Mathematical models --- Conferences - Meetings --- -Congresses --- Functions, Production (Economic theory)
Choose an application
Production (Economic theory) --- Production (Economic theory). --- production --- Economic conditions. Economic development --- Microeconomics --- Supply and demand --- Demand (Economic theory) --- Supply-side economics --- productie
Choose an application
Social stratification --- Economic schools --- Africa --- Production (Economic theory) --- Capitalism. --- Communism. --- Capitalism --- Communism
Choose an application
Listing 1 - 10 of 192 | << page >> |
Sort by
|