Comment on "C.E.S. production functions in the light of the Cambridge critique"

Giancarlo Gandolfo

Journal of Macroeconomics, 2008, vol. 30, issue 2, 798-800

Abstract: The controversy revived in Bertram Schefold's paper is based on three common assumptions: (1) the underlying techniques are linear (2) perfect competition obtains (3) the economy operates in a putty-putty context. The consequences of dropping these assumptions are discussed, and the relation between nonlinearity and the error due to the use of an "imprecise" production function is examined.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:30:y:2008:i:2:p:798-800

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