haku: @indexterm PRODUCTION FUNCTION / yhteensä: 99
viite: 5 / 99
| Tekijä: | Hasan, M. Mahmud, S. |
| Otsikko: | Is money an omitted variable in the production function? Some further results |
| Lehti: | Empirical Economics
1993 : VOL. 18:3, p. 431-445 |
| Asiasana: | MONEY PRODUCTION FUNCTION ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | In recent years, numerous studies have emphasized the role of real balances in the production function in terms of money being useful: as an intermediate good; as liquid reserves for investment; and also serving as a link between aggregate supply and the nominal interest rate. In this paper, the authors report new Canadian empirical evidence regarding the important role of money in the production process of aggregate manufacturing industries based on a flexible translog cost function approach. In general the results support the hypothesis that money is an important factor in the production function and that there are potential supply side effects of a change in the interest rate. |
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