Purpose An aggregate production function has been used in macroeconomic analysis for a long time, even though it seems that it is conceptually confusing and problematic. The purpose of this paper is to argue that the measurement problem related to the heterogenous capital input that exists in...

The manufacturing industry plays a key role in ensuring long-term and sustainable economic development. Although the impact of the service and information technology sectors on economic growth has increased recently, reindustrialization trends have appeared especially in developing and...