The Existence of Input and Output Aggregates in Aggregate Production Functions

Blackorby, Charles; Schworm, William

doi:10.2307/1911703

Cited by 35 publications

(29 citation statements)

References 25 publications

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“…In one of the models we consider, we assume that migration ceases when the intersectoral wage ratio falls to a level denoted by 7 The efficient allocation of factors is crucial here, as pointed out by May (1946) and Pu (1946). For general treatments of aggregation problems, see Blackorby and Schworm (1988) and Fisher (1992), or Felipe and Fisher (2003) for an accessible review. Temple (2006) discusses the role of aggregation in growth economics.…”

Section: Deriving An Empirical Growth Modelmentioning

confidence: 99%

Dualism and cross-country growth regressions

2006

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This paper develops empirical growth models suitable for dual economies, and studies the relationship between structural change and economic growth. Changes in the structure of employment will raise aggregate productivity when the marginal product of labor varies across sectors. The models in the paper incorporate this effect in a more flexible way than previous work. Estimates of the models imply sizeable marginal product differentials, and indicate that the reallocation of labor makes a significant contribution to the international variation in productivity growth. Copyright Springer Science+Business Media, LLC 2006Structural change, Dualism, Wage differentials, TFP growth, O11, O40,

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Section: Deriving An Empirical Growth Modelmentioning

confidence: 99%

Dualism and cross-country growth regressions

2006

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“…On the other hand, however, we have not addressed any of the complex questions relating to the assumed existence of aggregator functions like G( ·) and H( · ). (The interested reader is referred to Blackorby and Schworm [2) for a comprehensive discussion of the existence of input and output aggregates in aggregate production functions and for further references.) In all, it seems that the types of technologies which are compatible with (8) are rather specific ones.…”

Section: Discussionmentioning

confidence: 99%

“…(2) For example, suppose that p is a vector of (discounted) stock prices which are expected to prevail in period t 1 • We will then be concerned with a classical optimum investment problem: the economy seeks to maximize the expected (present) value of its terminal stocks, thereby using a given technology and given initial endowments. This is a standard problem of Mayer in the calculus of variations.…”

Section: The Basic Modelmentioning

confidence: 99%

Saddle-point dynamics in non-autonomous models of multisector growth with variable returns to scale

Wolff¹

1997

Journal of Mathematical Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may www.econstor.eu ------------------- VOLKSWIRTSCHAFTLICHE DISKUSSIONSBEITRAGE UNIVERSIT AT -GESAMTHOCHSCHULE -SIEGEN FACHBEREICH WIRTSCHAFTSWISSENSCHAFTEN Saddle-Point Dynamics in Non-Autonomous Models of Multi-Sector Growth with Variable Returns to ScaleReiner Wolff* Department of Economics University of Siegen, Germany Discussion Paper No. 38-93Abstract Efficient capital accumulation paths of an expanding multi-sector economy are known to display catenary behavior around a von Neumann saddle-point turnpike if the economy's production possibilities set is a time-free convex cone. We prove that this result generalizes to the case of a time-dependent biconvex production technology with nonconstant returns to scale but strong separability and homotheticity conditions imposed. We also demonstrate that these are locally necessary conditions if technical progress is known a. priori to be Hicks neutral.•Thanks go to A. Pfingsten (Siegen) for helpful comments on an earlier draft of this paper.· Please do not quote without the author's written consent.

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“…An applied macroeconomist or growth economist might often want to write down a function that relates "output" to indices of "capital" and "labour", where these indices aggregate several different types of each input. The conditions under which this is possible are extremely restrictive, something established in a series of contributions by Fisher (collected in Fisher 1993) and developed further by Blackorby and Schworm (1988). Felipe and Fisher (2003) provide an especially accessible review.…”

Section: Aggregationmentioning

confidence: 99%