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Estimates of the Returns to Scale for US Manufacturing

Author

Listed:
  • Altug, S.
  • Filiztekin, A.

Abstract

This paper derives estimates of the degree of the returns to scale for 2-digit US manufacturing industries using the cost-based primal and dual equations implied by firms' cost-minimization problem. The purpose is to reconcile the cyclical behavior of the primal and dual productivity residuals by allowing for increasing returns and imperfect competition. We find significant differences in estimates fomr the primal and dual equations, the latter implying the presence of a larger degree of the returns to scale, especially for non-durable goods industries.

Suggested Citation

  • Altug, S. & Filiztekin, A., 1997. "Estimates of the Returns to Scale for US Manufacturing," Papers 1997/24, Koc University.
    • Handle: RePEc:fth:kocuni:1997/24
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    Cited by:

    1. is not listed on IDEAS
    2. Gabriel J Felbermayr & Omar Licandro, 2002. "Embodied technical change in a two-sector AK model," Macroeconomics 0210001, University Library of Munich, Germany.

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    Keywords

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    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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