Mikro- i makroekonomiczne funkcje produkcji
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Date
1968
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WydziaĆ Prawa i Administracji UAM
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Micro- and Macroeconomic Production Functions
Abstract
There exist both micro- and macroeconomic production functions. Microecoinomic
functions concern individual firms whereas macroeconornic functions are
valid e.g. for whole industries or branches of national economy.
On the basis of suitably chosen numerical examples it is shown that the usual
aggregation procedure by summing sometimes leads to nonsensical, or heavily biased results. By performing the same computations on data for average firms
better results are obtained. If we use the Cobb-Douglas production function, aggregation must be multiplicative
and thus geometric means are appropriate It can be shown, however,
that, if the dispersion of the variables involved is small and the respective measures
are approximately equal, then arithmetic instead of geometric means can
be used. An attempt is made to evaluate production functions for certain industries in
Poland in 1965 on the basis of data concerning average firmis in 22 territorial
units (voivodships). In order to use the available data certain assumptions have
to be made. If these assumptions are confirmed the goodness of fit must be very
satisfactory. Thus it seems very plausible that a good fit proves the assumption to
be confirmed. The goodness of fit is measured by coefficients of determination.
The attempt has proved successful, as is shown by the values of the coefficients
of determination which, in some instances, are very close to unity. On the base of
these results characteristic features of particular industries are discussed.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 30, 1968, z. 1, s. 191-203
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ISBN
ISSN
0035-9629