Econometrica Vol. 30 No. 3 1962
Wages, Capital Costs, and Employment in Manufacturing: A Model Applied to 1947-58 U.S. Data
Abstract
The choice of methods of production as related to factor costs is formulated differently from the ordinary production function by means of a particular activity set. Continuous factor substitutability is maintained in an ex ante sense. The resulting formulation is more amenable to existing data and is applied via a distributed lag model.
- DOI
- 10.2307/1909893
- Volume
- 30
- Issue
- 3
- Pages
- 501
- Sources
- openalex crossref