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dc.contributor.author Burnside, C
dc.date.accessioned 2010-03-09T15:36:34Z
dc.date.issued 1996
dc.identifier.citation Journal of Monetary Economics, 1996, 37 (2), pp. 177 - 201
dc.identifier.issn 0304-3932
dc.identifier.uri http://hdl.handle.net/10161/1976
dc.identifier.uri http://dx.doi.org/10.1016/S0304-3932(96)90033-1
dc.description.abstract A number of recent papers have used simple linear regressions in an attempt to identify market structure, the extent of returns to scale, and possible external effects in U.S. manufacturing industries. The results obtained from these regressions have important implications for several branches of modern macroeconomics. As a result, the macro literature frequently cites specific numerical evidence from Caballero and Lyons (1992) and Hall (1990), which suggests that there are quantitatively significant increasing returns to scale, or external effects in U.S. manufacturing. In contrast, it is the argument of this paper that this evidence is not convincing. The most robust evidence suggests that the typical U.S. manufacturing industry displays constant returns with no external effects. On the other hand, there is significant heterogeneity across industries.
dc.format.extent 177 - 201
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.relation.ispartof Journal of Monetary Economics
dc.title Production function regressions, returns to scale, and externalities
dc.type Journal Article
dc.department Economics
dc.relation.journal Journal of Monetary Economics
pubs.issue 2
pubs.organisational-group /Duke
pubs.organisational-group /Duke/Trinity College of Arts & Sciences
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Economics
pubs.volume 37

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