Aggregate Production Functions and Growth Economics

Jonathan Temple

International Review of Applied Economics, 2006, vol. 20, issue 3, 301-317

Abstract: Rigorous approaches to aggregation indicate that aggregate production functions do not exist except in unlikely special cases. This paper considers the awkward implications for growth economics. It provides a conventional defence of growth theory in terms of 'parables' and then considers how empirical growth research might avoid the need for aggregate production functions.

Keywords: aggregation; production functions; growth econometrics (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (45)

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DOI: 10.1080/02692170600736052

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