Micro Production Functions Arent Pretty Firm Level And Industry Level Specifi
Micro Production Functions Arent Pretty Firm Level And Industry Level Specifi
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In response to some questions posed in the conclusions of important articles on producton over twenty years ago: (l) As Houthakker suggested, smoother functional forms seem to be reasonably appropriate even if plant pro- duction is characterized by fixed- factor technology, as long as cross-plant variation in these technologies is observed ;^^ (2) as Grunfeld and Grilliches suggest, aggregation is not necessarily bad and has the advantage of eliminating -29- plant-specif ic factors from conside...ration; 5 and (3) as Arrow, Chenery, and Minhas suggested, inputs can also be usefully subdivided, such as the capital in different stages of production or the distinction between maintenance, operating and salaried labor. " Perhaps, the most important conclusion to be drawn from this study is the reminder to the empirical researcher to develop as reasonable a framework as possible for productivity research given the level of analysis and the nature of the data. In this study the detailed model of plant production, which accounts for over 957o of the total variation in production, is intended to provide some guidance and illustrations of some of the specification issues for inputs and outputs that can arise even within a narrowly defined industry group.
What to read after Micro Production Functions Arent Pretty Firm Level And Industry Level Specifi?
You can find similar books in the "Read Also" column, or choose other free books by Casey Ichniowski to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In response to some questions posed in the conclusions of important articles on producton over twenty years ago: (l) As Houthakker suggested, smoother functional forms seem to be reasonably appropriate even if plant pro- duction is characterized by fixed- factor technology, as long as cross-plant variation in these technologies is observed ;^^ (2) as Grunfeld and Grilliches suggest, aggregation is not necessarily bad and has the advantage of eliminating -29- plant-specif ic factors from conside...ration; 5 and (3) as Arrow, Chenery, and Minhas suggested, inputs can also be usefully subdivided, such as the capital in different stages of production or the distinction between maintenance, operating and salaried labor. " Perhaps, the most important conclusion to be drawn from this study is the reminder to the empirical researcher to develop as reasonable a framework as possible for productivity research given the level of analysis and the nature of the data. In this study the detailed model of plant production, which accounts for over 957o of the total variation in production, is intended to provide some guidance and illustrations of some of the specification issues for inputs and outputs that can arise even within a narrowly defined industry group.
What to read after Micro Production Functions Arent Pretty Firm Level And Industry Level Specifi?
You can find similar books in the "Read Also" column, or choose other free books by Casey Ichniowski to read onlineMoreLess
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