Klein Aggregates and Conventional Index Numbers
Klein Aggregates and Conventional Index Numbers
This paper was presented at the European Meeting of the Econometric Society in Innsbruck in 1953; it has never been published, survives in several drafts, and was the first attempt to try to put together the issues raised by aggregation and equilibrium conditions. Klein (1946) posed the problem of aggregating inputs and outputs in an economy's production function when there are no equilibrium conditions restricting the allocation of commodities. This problem was solved by Nataf (1948) who derived the general forms of the aggregates and the economy technologies that are consistent with the Klein aggregation problem. Gorman here analyses the usefulness of the aggregates that solve the Klein problem, arguing that these Klein aggregates are not useful for many purposes in their general form, and proposing additional requirements that useful Klein aggregates should satisfy. For several of these additional requirements, Gorman derives the circumstances in which such aggregates exist.
Keywords: aggregation, conventional index numbers, equilibrium, Klein aggregates, production functions
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
