In this paper we develop measures of economic capacity output and economic capacity utilization for firms producing multiple outputs and having one or .ore quasi-fixed inputs. Although we produce an impossibility theorem showing that based only on the assumption of cost minimization, the concept...

Although a great deal of empirical research on productivity measuremant has taken place in the last decade, one issue remaining particudarly controversial and deaisive is the manner by which one adjusts the productivity residual for variations in capital and capacity utilization. In this paper...

The celebrated economist Zvi Griliches’s entire career can be viewed as an attempt to advance the cause of accuracy in economic measurement. His interest in the causes and consequences of technical progress led to his pathbreaking work on price hedonics, now the principal analytical technique...