Estimating the Relationship Between Output and Hours Worked in United Kingdom Manufacturing and Production Industries

Richard T. Baillie and Mick Silver

Chapter 10 in Working Below Capacity, 1987, pp 304-316 from Palgrave Macmillan

Abstract: Abstract The concern of this chapter is with the estimation of the marginal productivity of hours worked for British manufacturing industries. Such estimates are of particular interest when considering the policy option of reducing average hours worked to increase employment (i.e., the number of employees). The approach taken is separately to specify the numbers of employees and hours worked in a production function.

Keywords: Production Function; Capital Stock; Marginal Productivity; Technical Progress; Error Covariance Matrix (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08649-8_10

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DOI: 10.1007/978-1-349-08649-8_10

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