This paper estimates production functions with factor interaction for annual US output from 1949 to 2013 including energy Btu input with capital and labor. Interactions between the three factors are parsimoniously introduced to the error correction estimates. The findings are as follows: Fixed...

The food processing industry has been confronted with unprecedented challenges as the costs of raw materials have risen rapidly, owing in part to the increased use of grains for ethanol. It is critical to comprehend how these trends affect the industry and potential coping techniques. This study...

This paper proposes new inverse data envelopment analysis (DEA) models considering input and output efficiency measures for the time substitution problem. We compare our DEA model with existing models in the literature. We show that existing models in the literature overestimate the required...

Using panel data on input-output intensities and expenditure prices from 28 countries, this paper finds the elasticity of substitution across sectoral inputs to be less than one in each of the three broad sectors of the economy. Intermediates are most complementary in the production of services...

This paper provides one of the first estimates of elasticities of substitution across suppliers within the same product. This paper estimates these elasticities using new real-time administrative tax data on firm-to-firm transactions, with product-level prices and quantities, leveraging...

This paper asks whether the post-Keynesian or New Keynesian paradigm provides a more realistic description of the effects of fiscal policy on output and consumption. I establish some macro and microeconomic stylized facts on fiscal multipliers and marginal propensities to consume based on the...

This contribution advances a critical examination of Smith’s thought in theological perspective, with a point of departure in a recent interpretation of the "invisible hand." We show that the concept of general providence has displaced traditional understandings of special providence in the...

This paper gives an interpretation of Michael Polanyi’s vision of government and economics as spanning between Hayek and Keynes. The influence of Hayek is manifested by his opposition to central planning and the defence of self-organization as a superior mechanism for coordinating individual...