English, Article edition: Returns to Scale and Externalities in the Consumption and Investment Sectors Sharon G. Harrison

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Returns to Scale and Externalities in the Consumption and Investment Sectors
Author
  • Sharon G. Harrison
Physical Description
  • article
Notes
  • Using data on US manufacturing, I estimate internal returns to scale and external effects for the consumption and investment sectors. I construct panels of data at the industry level and use results of gross output production function estimation to derive implied estimates in a value added specification. For the investment sector, returns to scale appear to be slightly increasing, with evidence of a positive external effect. For consumption, the evidence indicates decreasing to constant returns to scale. I discuss the implications of these results for the empirical plausibility of indeterminacy in recent multi-sector models of the business cycle. (Copyright: Elsevier)
  • Production function; Sector-specific externalities; Increasing returns to scale
  • RePEc:red:issued:v:6:y:2003:i:4:p:963-976
Language
  • English
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