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- W2008101372 abstract "A number of theoretical results on estimating returns to scale, technical progress and monopolistic markups are derived when there are multiple outputs and inputs. The choice of value added versus gross output and problems that arise in aggregation across sectors of an economy are also considered. Using US data on manufacturing, evidence is found of increasing returns to scale across all levels of aggregation. Technical progress is typically found to be insignificant implying that economic growth has been driven by increasing returns to scale rather than technical progress. Such findings have important implications for the macroeconomic modeling of economic fluctuations." @default.
- W2008101372 created "2016-06-24" @default.
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- W2008101372 date "2008-07-01" @default.
- W2008101372 modified "2023-10-02" @default.
- W2008101372 title "On the estimation of returns to scale, technical progress and monopolistic markups" @default.
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- W2008101372 doi "https://doi.org/10.1016/j.jeconom.2008.05.002" @default.
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