NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Microeconomic Foundations of Aggregate Production Functions

David Baqaee, Emmanuel Farhi

NBER Working Paper No. 25293
Issued in November 2018, Revised in November 2019

---- Acknowledgments ----

We thank Maria Voronina for excellent research assistance. We thank Natalie Bau and Elhanan Helpman for useful conversations. This paper was written for the 2018 BBVA lecture of the European Economic Association. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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