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Aggregate Production Functions and Growth Economics

  • Jonathan Temple

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.

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Article provided by Taylor & Francis Journals in its journal International Review of Applied Economics.

Volume (Year): 20 (2006)
Issue (Month): 3 ()
Pages: 301-317

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Handle: RePEc:taf:irapec:v:20:y:2006:i:3:p:301-317
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