The choice of methods of production as related to factor costs is formulated differently from the ordinary production function by means of a particular activity set. Continuous factor substitutability is maintained in an ex ante sense. The resulting formulation is more amenable to existing data and is applied via a distributed lag model.
MLA
McKinnon, Ronald I.. “Wages, Capital Costs, and Employment in Manufacturing: A Model Applied to 1947-58 U.S. Data.” Econometrica, vol. 30, .no 3, Econometric Society, 1962, pp. 501-521, https://www.jstor.org/stable/1909893
Chicago
McKinnon, Ronald I.. “Wages, Capital Costs, and Employment in Manufacturing: A Model Applied to 1947-58 U.S. Data.” Econometrica, 30, .no 3, (Econometric Society: 1962), 501-521. https://www.jstor.org/stable/1909893
APA
McKinnon, R. I. (1962). Wages, Capital Costs, and Employment in Manufacturing: A Model Applied to 1947-58 U.S. Data. Econometrica, 30(3), 501-521. https://www.jstor.org/stable/1909893
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