Production Functions Behaving Badly - Reconsidering Fisher and Shaikh

We reconsider Anwar Shaikh’s critique of the neoclassical theory of growth and distribution based on its use of aggregate production functions. This is done by reconstructing and extending Franklin M. Fisher’s 1971 computer simulations, which Shaikh used to support his critique. Together with other recent extensions to Shaikh’s seminal work, the results support and strengthen the evidence against the use of neoclassical aggregate production functions.

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Year of publication:	2013
Authors:	Fredholm, Thomas ; Zambelli, Stefano
Institutions:	Dipartimento di Economia e Management, Università degli Studi di Trento
Subject:	HUMBUG Production Function \| Cobb-Douglas Production Function \| Aggregation \| Computational Techniques

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Extent:	application/pdf
Series:	ASSRU Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 1305
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C63 - Computational Techniques ; C67 - Input-Output Models ; O47 - Measurement of Economic Growth; Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010691591