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A Dual Elasticity Of Substitution Production Function With An Application To Cross Country Inequality
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Book Synopsis A Dual Elasticity of Substitution Production Function with an Application to Cross Country Inequality by : Jürgen Antony
Download or read book A Dual Elasticity of Substitution Production Function with an Application to Cross Country Inequality written by Jürgen Antony and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Substitution of Private and Public Capital in Production by : Zidong An
Download or read book On the Substitution of Private and Public Capital in Production written by Zidong An and published by International Monetary Fund. This book was released on 2019-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect substitutes. In this paper we test this assumption by estimating a nested-CES production function whereas the two types of capital are considered separately along with labor as inputs. The estimation is based on our newly developed dataset on public and private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find evidence against perfect substitutability between public and private capital, especially for emerging and LIDCs, with the point estimate of the elasticity of substitution estimated closely around 3.
Book Synopsis Empirical Essays on the Elasticity of Substitution, Technical Change, and Economic Growth by :
Download or read book Empirical Essays on the Elasticity of Substitution, Technical Change, and Economic Growth written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the elasticity of substitution using two different production functions. The usual Constant Elasticity of Substitution (CES) production function and a Box-Cox production function for Japan (1890-1991), UK (1870-1991), and US (1890-1992; 1929-2000). The main results are that we find the ES to be non-unitary and changing over time. Our findings have implications for economic growth (theoretical and empirical), as production is an increasing function of the ES. The use of a Cobb-Douglas production function, as in most cases in the literature, hides the role of the ES not only as a source of increase in output but also as a source of technical change. Also, we found in a monte carlo simulation that usual CES production usually does not give reliable estimates for the substitution parameter. Finally, using a CES to calculate TFP across countries, we found that variance of TFP is lower than using a Cobb-Douglas. It implies that the importance of TFP to explain income differences across countries is diminished.
Book Synopsis The Constant Elasticity of Substitution Production Function and Its Application in Research by : Marlen Frederick Miller
Download or read book The Constant Elasticity of Substitution Production Function and Its Application in Research written by Marlen Frederick Miller and published by . This book was released on 1975 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Constant Elasticity of Substitution Production Function and Its Application in Research by : Washington State University
Download or read book The Constant Elasticity of Substitution Production Function and Its Application in Research written by Washington State University and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Constant Elasticity of Substitution Production Function by : Murray Brown
Download or read book The Constant Elasticity of Substitution Production Function written by Murray Brown and published by . This book was released on 1962 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On production functions and elasticity of substitution by : K. R. Kadiyala
Download or read book On production functions and elasticity of substitution written by K. R. Kadiyala and published by . This book was released on 1971 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Constant Elasticity of Substitution Production Function and Its Applicability in Applied Research by : Terry Noel Barr
Download or read book The Constant Elasticity of Substitution Production Function and Its Applicability in Applied Research written by Terry Noel Barr and published by . This book was released on 1971 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Factor Substitution in the Economic Analysis of Production by : Daniel Little McFadden
Download or read book Factor Substitution in the Economic Analysis of Production written by Daniel Little McFadden and published by . This book was released on 1962 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Isoelastic Elasticity of Substitution Production Functions by :
Download or read book Isoelastic Elasticity of Substitution Production Functions written by and published by . This book was released on 2015 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Research Methods and Applications in Empirical Microeconomics by : Hashimzade, Nigar
Download or read book Handbook of Research Methods and Applications in Empirical Microeconomics written by Hashimzade, Nigar and published by Edward Elgar Publishing. This book was released on 2021-11-18 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written in a comprehensive yet accessible style, this Handbook introduces readers to a range of modern empirical methods with applications in microeconomics, illustrating how to use two of the most popular software packages, Stata and R, in microeconometric applications.
Book Synopsis A Study in the Constant-elasticity-of-substitution Production Function by : Arjun Kumar Sengupta
Download or read book A Study in the Constant-elasticity-of-substitution Production Function written by Arjun Kumar Sengupta and published by . This book was released on 1963 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis North-South Trade, Employment, and Inequality by : Adrian Wood
Download or read book North-South Trade, Employment, and Inequality written by Adrian Wood and published by Oxford University Press. This book was released on 1994 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this important and topical book, Adrian Wood demonstrates that recent changes in North-South trade have had a far larger impact on labor markets than earlier studies imply, altering the relative demand for skilled and unskilled workers in the two regions. Developing his argument by incorporating three fields of economics--international, labor, and development--he suggests policies that could reduce the resulting social dislocation in the North, without jeopardizing world trade or economic progress in the South. Wood argues that there are grounds for qualified eptimism despite this problem. Greater trade should mean greater prosperity for developing countries, and less global inequality, while for developed countries it should mean workers are available to produce sophisticated exports, which the South cannot produce. Northern governments must take action to avoid the situation of rising unemployment and protectionism in the North, and exploitation of labor in the South. Wood argues that this can be done not through protectionism, but through investment in education and training to raise the supply of skilled labor.
Book Synopsis Scale and Elasticity of Substitution in Cross-section Production Functions by : Robert L. Brite
Download or read book Scale and Elasticity of Substitution in Cross-section Production Functions written by Robert L. Brite and published by . This book was released on 1971* with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Technical Change, Variable Elasticity of Substitution and Economic Growth by : Sharmila Gamlath
Download or read book Technical Change, Variable Elasticity of Substitution and Economic Growth written by Sharmila Gamlath and published by . This book was released on 2015 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We incorporate a variable elasticity of substitution production function into an overlapping generations model à la Diamond (1965). We show that a certain parameter in the production function is a source of biased technical change is a crucial determinant of the economy's growth dynamics. For positive values of this parameter, which lead to an elasticity of substitution between capital and labour which is greater than 1, the economy always reaches a unique and stable steady state which is similar to the conditional convergence in the standard Solow growth model. For negative values of this parameter, which yield an elasticity of substitution below 1, the economy could either fall into a poverty trap; or display two steady states, of which one is stable while the other is not, which could, depending on the value of the initial capital stock, potentially result in divergence towards unbounded growth. These different outcomes are consistent with the observed diversity in international growth experiences. The capital biased technical change generated by a higher value of this parameter improves productivity in steady state, but causes an exacerbation of intergenerational inequality.
Book Synopsis The Constant Elasticity of Substitution by : Marlen F. Miller
Download or read book The Constant Elasticity of Substitution written by Marlen F. Miller and published by . This book was released on 1975 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Introduction to Computable General Equilibrium Models by : Mary E. Burfisher
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2016 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
