Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/79451
Authors: 
Felipe, Jesus
McCombie, John
Year of Publication: 
2012
Series/Report no.: 
Working Paper, Levy Economics Institute 718
Abstract: 
In a reply to Felipe and McCombie (2010a), Temple (2010) has largely ignored the main arguments that underlie the accounting identity critique of the estimation of production functions using value data. This criticism suggests that estimates of the parameters of aggregate production functions cannot be regarded as reflecting the underlying technology of the industry. While Temple concedes some points, he erroneously believes that the critique holds only under some ad hoc assumptions. As a consequence, he argues that the critique works only part-time. This rejoinder discusses Temple's arguments and demonstrates that the critique works full-time.
Subjects: 
Accounting Identity
Aggregate Production Function
Aggregation Problems
Value-added Identity
Value Data
JEL: 
C43
O11
O16
O47
O53
Document Type: 
Working Paper

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