Production Pdf 193295 | Jonesqje2005

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the shape of production functions and the direction of technical change charles i jones this paper views the standard production function in macroeconomics as a reduced form and derives its ...

Filetype PDF | Posted on 06 Feb 2023 | 2 years ago

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...The shape of production functions and direction technical change charles i jones this paper views standard function in macroeconomics as a reduced form derives its properties from microfoundations is governed by distribution ideas if that pareto then two results obtain global cobb douglas long run labor augmenting kortum showed distributions are necessary search based idea models to exhibit steady state growth here we show same assumption delivers addi tional about introduction muchofmacroeconomics andanevenlargerfraction growthliterature makesstrongassumptionsabouttheshapeof particular it well known for neoclassical model either must be or aug menting but apart analytic convenience there any justication these assumptions wheredoproductionfunctionscomefrom totakeacommon example our frequently specify relation y f k determines how much output per worker can produced with quantity capital typically assume economy endowed consider might derive deeper suppose techniques get dis covered ove...

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Posted on: 06 Feb 2023 | 2 years ago
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