In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

The per worker production function attempts to model how much a single employee will produce based on either land available or capital invested. The Malthusian model bases it solely on land while the ...

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those ...

In this paper we present results of joint estimates of factor demand functions in aggregate Swedish industry and in eight of its subsectors using the equilibrium equality between marginal ...

The usefulness of the production possibility curve for the empirical testing of international trade theory is demonstrated. Agricultural and manufacturing production functions are estimated for the ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

The author is editorial writer and columnist for The Economic Times. NEW DELHI: Now that double-digit inflation is raising its ugly head again, after quite a while, it’s time to have a re-look at the ...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...

Government analytics refers to the use of data to diagnose and improve the machinery of government, or public administration. The Handbook introduces a public administration production function to ...