What does the aggregate production function show? Further thoughts on Solow's "second thoughts on growth theory"

Journal of Post Keynesian Economics

Volumn 23, Issue 4, 2001, Pages 589-615

  McCombie, J S L ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0035594046     PISSN: 01603477     EISSN: None     Source Type: Journal    
DOI: 10.1080/01603477.2001.11490301     Document Type: Review

References (37)

1. Anyadike-Danes, M., and Godley, W. "Real Wages and Employment: A Sceptical View of Some Recent Empirical Work." The Manchester School, 1989, LVII, 172-187.
2. Baldwin, R. "The Growth Effects of 1992." Economic Policy, 1989, 9, 248-281.
3. Coutts, K.J.; Godley, W.; and Nordhaus, W. Industrial Pricing in the United Kingdom. Cambridge: Cambridge University Press, 1978.
4. Douglas, P.H. (1944). "Are There Laws of Production?" American Economic Review, 1944, 38, 1-41.
5. Felipe, J. "On the Myth and Mystery of Singapore's 'Zero TFP.'" Asian Economic Journal, 2000, 14, 187-209.
6. Felipe, J., and Holz, C. "Why do Production Functions Work? Fisher's Simulations, Shaikh's Identity and Some New Results." International Review of Applied Economics, 2001, 15 (forthcoming).
7. Felipe, J., and McCombie, J.S.L. "Methodological Problems with Recent Analyses of the East Asian Economic Miracle." Georgia Institute of Technology and the University of Cambridge, 2000a (mimeo).
8. _. "A Problem with Some Recent Estimations and Interpretations of the Markup in Manufacturing Industry." Georgia Institute of Technology and the University of Cambridge, 2000b (mimeo).
9. _. "The CES Production Function, the Accounting Identity and Occam's Razor." Applied Economics, 2001 (forthcoming).
10. Fisher, F.M. (1971), "Aggregate Production Function and the Explanation of Wages. A Simulation Experiment." Review of Economics and Statistics, 1971, 53, 305-325.
11. Fisher, F.; Solow, R.M.; and Kearl, J.M. "Aggregate Production Functions: Some CES Experiments." Review of Economic Studies, 1977, XLIV, 305-320.
12. Lancaster, K. "Economic Aggregation and Additivity." In S.R. Krupp (ed.), The Structure of Economic Science. Englewood Cliffs, NJ: Prentice-Hall, 1966, pp. 201-215.
13. Lee, F.S. Post Keynesian Price Theory. Cambridge: Cambridge University Press, 1999.
14. McCombie, J.S.L. "Does the Aggregate Production Function Imply Anything about the Laws of Production? A Note on the Simon and Shaikh Critiques." Applied Economics, 1987, 19, 1121-1136.
15. _. "'Are There Laws of Production?': An Assessment of the Early Criticisms of the Cobb-Douglas Production Function." Review of Political Economy, 1998, 10, 141-173.
16. _. "Regional Production Function Functions and the Accounting Identity: A Problem of Interpretation." Australasian Journal of Regional Studies, 2000, 6, 133-155.
17. _. "The Solow Residual, Technical Change, and Aggregate Production Functions." Journal of Post Keynesian Economics, Winter 2000-2001, 23 (2), 267-297.
18. McCombie, J.S.L., and Dixon, R. "Estimating Technical Change in Aggregate Production Functions: A Critique." International Review of Applied Economics, 1991, 5, 24-46.
19. McCombie, J.S.L., and Thirlwall, A.P. Economic Growth and the Balance-of-Payments Constraint. Basingstoke, UK: Macmillan, 1994.
20. Michl, T.R. "Is there Evidence for a Marginalist Demand for Labour?" Cambridge Journal of Economics, 1987, 11, 361-373.
21. Phelps Brown, E.H. "The Meaning of the Fitted Cobb-Douglas Function." Quarterly Journal of Economics, 1957, 71, 546-560.
22. Romer, P. "Crazy Explanations for the Productivity Slowdown." NBER Macroeconomics Annual. Cambridge, MA: MIT Press, 1987, pp. 163-202.
23. Samuelson, P.A. "A Summing Up." Quarterly Journal of Economics, 1966, 80, 568-583.
24. Sato, R. "The Impact of Technical Change on the Holotheticity of Production Functions." Review of Economic Studies, 1980, XLVII, 767-776.
25. Shaikh, A. "Laws of Production and Laws of Algebra: The Humbug Production Function." Review of Economics and Statistics, 1974, LVI, 115-120.
26. _. "Laws of Production and Laws of Algebra: Humbug II." In E. Nell (ed.), Growth, Profits and Property. Cambridge: Cambridge University Press, 1980, pp. 80-95.
27. _. "Humbug Production Function." In J. Eatwell, M. Milgate, and P. Newman (eds.), The New Palgrave. A Dictionary of Economic Theory and Doctrine. London: Macmillan, 1987.
28. Simon, H.A. "On Parsimonious Explanations of Production Relations." Scandinavian Journal of Economics, 1979, 89, 459-474.
29. Simon, H.A., and Levy, F.K. "A Note on the Cobb-Douglas Function." Review of Economics and Statistics, 1963, 39, 93-94.
30. Solow, R.M. "A Contribution to the Theory of Economic Growth." Quarterly Journal of Economics, 1956, 70, 65-94.
31. _. "Technical Change and the Aggregate Production Function." Review of Economics and Statistics, 1957, 39, 312-320.
32. _. "A Skeptical Note on the Constancy of Relative Shares." American Economic Review, 1958, XLVIII, 618-631.
33. _. "Laws of Production and Laws of Algebra: The Humbug Production Function: Comment." Review of Economics and Statistics, 1974, LVI, 115-120.
34. _. "Second Thoughts on Growth Theory." In A. Steinherr and D. Weiserbs (eds.), Employment and Growth: Issues for the 1980s. Dordrecht: Martinus Nijhoff, 1987.
35. _. "Growth Theory and After." American Economic Review, 1988, 78 (3), 307-317.
36. Thomas, R.L. Introductory Econometrics: Theory and Applications, 2d ed. London: Longman, 1993.
37. Wallis, K.F. Topics in Applied Econometrics. London: Gray-Mills Publishing, 1973.