This chapter develops the duality between cost and production functions. The chapter derives the regularity conditions that a cost function C must have and shows how a production function is constructed from a given cost function. The chapter considers the duality between a (direct) production...

In this brief paper, we review the recent literature on sources of bias in consumer price indexes.

Statistical agencies are faced with a difficult measurement problem when tax reforms change consumer prices. Such reforms can affect measures of inflation and hence measures of welfare. It is suggested that instead of attempting to adjust the consumer price index (CPI) afetr tax reform, it is...

Empirically estimated flexible functional forms frequently fail to satisfy the appropriate theoretical curvature conditions. Lau and Gallant and Golub have worked out methods for imposing the appropriate curvature conditions locally, but those local techniques frequently fail to yield...