On the Production Efficiency of Full Employment under Production Externalities

Gang Li and Akihiko Yanase ()

Economics Bulletin, 2016, vol. 36, issue 4, 2482-2490

Abstract: We address whether it is efficient for all factors of production to be fully employed, even in the presence of production externalities, by considering two general formulations of production externalities categorized by source: output-generated production externalities and input-generated ones. Our answer is affirmative for the former case, while it could be negative for the latter.

Keywords: Production efficiency; Full employment; Output-generated production externalities; Input-generated production externalities (search for similar items in EconPapers)
JEL-codes: D6 H0 (search for similar items in EconPapers)
Date: 2016-12-21
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