Production economics: a dual approach to theory and applications. 2. Applications of the theory of production

Contributions to Economic Analysis: Production Economics: A Dual Approach to Theory and Applications, Volume 2 focuses on the theory of production from the standpoint of the'dual', the relationships between economic observables which are dual to physical technology. The selection first ponders on duality, intermediate inputs and value-added, Hicks'aggregation theorem and the existence of a real value-added function, and homotheticity and real value-added in Canadian manufacturing. Discussions focus on real value-added and the production structure, estimation of the production structure, double deflation and real value-added, measurement of total productivity, and duality between direct and conditional indirect utility functions. The book then examines the estimation techniques for the elasticity of substitution and other production parameters and measurement of the elasticity of factor substitution and bias of technical change. The publication takes a look at the identification of technical change in the electricity generating industry, factor substitution in electricity generation, and the effectiveness of rate-of-return regulation. Topics include statistical tests of regulatory effectiveness, profit function for a regulated firm, tests of the structure of technology, identification problems in the measurement of technical change, and measurement of disembodied technical change. The selection is a valuable source of information for economists and researchers interested in production economics. Monograph on the impact of macro economic policies on the economic structure of Chile during the period from 1945 to 1965 - examines trends in major postwar stabilization programmes, fiscal policy, monetary policy, incomes policy, resource allocation, supply and demand, price policy, inflation effects, investment policy, etc., and includes a macroeconometric model of the Chilean economy with sectoral simulations. Bibliography pp. 305 to 317 and statistical tables James A. Roumasset. Includes Index. Bibliography: P.235-245.