Estimation of Production Capacities in a Putty-Clay Production Model: Norwegian Manufacturing Industries, 1962-81
基于油灰-黏土生产函数提出一种生产能力估计方法，用机器资本而非总资本拟合产出/机器资本比率的包络曲线，并讨论了该方法的优缺点，以93个挪威制造业行业为例。
Estimates of production capacities are normally based on ad hoc methods without foundation in production theory; see e.g. the survey by Christiano (1981). The present note constitutes an attempt to base capacity estimates explicitly on putty-clay production functions. The putty-clay framework generates an estimation procedure where an envelope curve is fitted to the output/machine capital ratios of the observation period. It is suggested that machine capital be used instead of total capital because production techniques are likely to be determined mainly by machine capital. The aim of the paper is to expose the advantages and weaknesses of the suggested procedure. Capacity estimates have been calculated for 93 Norwegian manufacturing industries. They provide an ample source of illustrations for the discussion.