The Aggregate Production Function and Solow's "Three Denials"

• Main Authors: Felipe, Jesus, McCombie, John
• Format: text
• Published: Animo Repository 2024
• Subjects: Accounting Identity, Aggregation Problem, Cambridge Capital Theory Controversies, Solow
• Online Access: https://animorepository.dlsu.edu.ph/res_aki/193; https://animorepository.dlsu.edu.ph/context/res_aki/article/1196/viewcontent/DLSU_AKI_Working_Paper_Series_2024_03_092.pdf
• Institution: De La Salle University

This paper offers a retrospective view of the key pillar of Solow’s neoclassical growth model, namely the aggregate production function. We review how this tool came to life and how it has survived until today, despite three criticisms that undermined its raison d’être. They are the Cambridge Capita...