论收入生产函数的不可识别性
On the Non-Identification of Revenue Production Functions
AI总结:
本文证明在不完全竞争下,以收入代理产出会导致生产函数与希克斯中性生产率均不可识别,并指出唯有对需求系统施加假设才可能恢复识别。
摘要:
当收入被用作产出的代理变量时,生产函数可能存在误设。我将这一常识形式化并加以强化,证明使用这种收入代理变量时,生产函数和希克斯中性生产率均无法被识别。该结论是在放宽文献中使用的标准假设、允许不完全竞争的情况下得到的。它适用于一大类生产函数,包括所有常用的参数形式。在解决这一问题的主流方法中,只有那些对潜在需求系统施加假设的方法,才有可能识别生产函数。
英文摘要:
Production functions are potentially misspecified when revenue is used as a proxy for output. I formalize and strengthen this common knowledge by showing that neither the production function nor Hicks-neutral productivity can be identified with such a revenue proxy. This result obtains when relaxing the standard assumptions used in the literature to allow for imperfect competition. It holds for a large class of production functions, including all commonly used parametric forms. Among the prevalent approaches to address this issue, only those that impose assumptions on the underlying demand system can possibly identify the production function.
机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。