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• W13200036 abstract "Publisher Summary Three problems seem particularly troublesome—the unobservable problem, especially with regard to utilization; the aggregation problem; and the simultaneous equation problems. This chapter presents theoretical arguments and empirical evidence from British manufacturing for the view that the first of these is the most serious with important dimensions in the measurement of capital and output as well as that of utilization. It presents two classic questions. One was first raised by Feldstein who observed in a cross-section context that the elasticity of output with respect to average observed hours of work significantly exceeded the elasticity with respect to employment. Craine observed a similar result for time-series data. The other question is one with which most researchers on productivity have struggled, that is, the way to correct productivity for cyclical variations in the utilization of inputs." @default.
• W13200036 created "2016-06-24" @default.
• W13200036 creator A5019195796 @default.
• W13200036 date "1990-01-01" @default.
• W13200036 modified "2023-09-25" @default.
• W13200036 title "Aggregate Production Functions and Productivity Measurement: A New Look" @default.
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• W13200036 doi "https://doi.org/10.1016/b978-0-444-88515-9.50013-2" @default.
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