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Author : Michael Knoblach
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)
Download or read book On the Elasticity of Substitution Between Capital and Labor written by Michael Knoblach and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Knoblach
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (118 download)
Download or read book What Determines the Elasticity of Substitution Between Capital and Labor? A Literature Review written by Michael Knoblach and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jakub Mućk
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (12 download)
Download or read book Elasticity of Substitution Between Labor and Capital written by Jakub Mućk and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James Howard Grant
Publisher :
ISBN 13 :
Total Pages : 470 pages
Book Rating : 4.3/5 (129 download)
Download or read book Substitution Among Labor, Labor and Capital in United States Manufacturing written by James Howard Grant and published by . This book was released on 1979 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Bob Rowthorn
Publisher : International Monetary Fund
ISBN 13 : 1451846304
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)
Download or read book Unemployment, Capital-Labor Substitution, and Economic Growth written by Mr.Bob Rowthorn and published by International Monetary Fund. This book was released on 1999-03-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the influence of economic growth on the equilibrium unemployment rate (NAIRU). It examines how income distribution and the NAIRU are influenced by capital formation, technical progress, and labor force expansion, and how these factors’ impact depends on the elasticity of substitution between capital and labor. The paper distinguishes between the short-run NAIRU when capital stock is exogenous, and the long-run NAIRU when it is endogenous. It also considers how the analysis must be modified to take into account Keynesian ideas concerning the role of aggregate demand. It concludes that unless the capital stock grows in line with labor supply in efficiency units, the short-run NAIRU will increase, reducing the scope for demand stimulation.
Author : Sebastian Claro
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book A Cross-country Estimation of the Elasticity of Substitution Between Labor and Capital in Manufacturing Industries written by Sebastian Claro and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Samuel D. Pessoa
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Elasticity of Substitution Between Capital and Labor and Its Applications to Growth and Development written by Samuel D. Pessoa and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the elasticity of substitution of an aggregate production function. The estimating equation is derived from the steady state of a neoclassical growth model. The data comes from the PWT in which different countries face different relative prices of the investment good and exhibit different investment-output ratios. Then, taking advantage of this variation we estimate the long-run elasticity of substitution. Using various estimation techniques, we find that the elasticity of substitution is 0.7, which is lower than the elasticity, 1, that is traditionally used in macro-development exercises. We show that this lower elasticity reinforces the power of the neoclassical model to explain income differences across countries as coming from differential distortions.
Author : Samuel de Abreu Pessôa
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (177 download)
Download or read book Elasticity of Substitution Between Capital and Labor written by Samuel de Abreu Pessôa and published by . This book was released on 2003 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : G. E. Hebbink
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)
Download or read book The Elasticity of Substitution Between Lower Educated Labour and Other Factors of Production in the Netherlands written by G. E. Hebbink and published by . This book was released on 1990 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zidong An
Publisher : International Monetary Fund
ISBN 13 : 1513519565
Total Pages : 34 pages
Book Rating : 4.5/5 (135 download)
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.
Author : Michael Knoblach
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Elasticity of Substitution Between Capital and Labour in the Us Economy written by Michael Knoblach and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite extensive research, there is no agreement on the value of the elasticity of substitution between capital and labour at the aggregate or the industrial level. Utilizing 2,419 estimates from 77 studies published between 1961 and 2017, this paper provides the first meta-regression analysis for the US economy. We show that the heterogeneity in previously reported estimates is driven primarily by modelling decisions for technological dynamics. Throughout the analysis, the hypothesis of a Cobb-Douglas production function is rejected. Based on our meta-regression sample, we estimate a long-run meta-elasticity for the aggregate economy in the range of 0.45-0.87. Most industrial estimates do not deviate significantly from the estimate for the aggregate economy.
Author : Xavier Raurich-Puigdevall
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (838 download)
Download or read book Factor Shares, the Price Markup, and the Elasticity of Substitution Between Capital and Labor written by Xavier Raurich-Puigdevall and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the aggregate price mark-up reflecting the degree of imperfect competition in the product market, and provides estimates of the elasticity of substitution under such product market imperfections. We focus on Spain and the U.S. and show that the elasticity of substitution is above one in Spain and below one in the U.S. We also show that the price markup drives the elasticity of substitution away from one, upwards in Spain, downwards in the U.S. These results are used to explain the declining path of the labor income share, common to both economies, and their contrasted patterns in terms of capital deepening. -- elasticity of substitution ; price markup ; factor shares ; capital deepening
Author : Vahagn Jerbashian
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book On the Elasticity of Substitution Between Labor and ICT and IP Capital and Traditional Capital written by Vahagn Jerbashian and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP capital, and traditional capital. The estimated elasticities of substitution between ICT and IP capital are strictly below one for all sample countries implying gross complementarity. ICT and IP capital together are gross substitutes for labor while traditional capital is a gross complement. The results for the US imply that the fast pace of technological progress in ICT and IP capital accumulation together are responsible for about 80 percent of the fall in labor income share.
Author : Jere R. Behrman
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (373 download)
Download or read book Sectoral elasticities of substitution between capital and labor in a developing economy written by Jere R. Behrman and published by . This book was released on 1970 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fabienne Ilzkovitz
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book Capital/labour Substitution and Its Impact on Employment written by Fabienne Ilzkovitz and published by . This book was released on 1987 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sebastián Claro
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (249 download)
Download or read book A cross-country estimation of the elasticity of substitution written by Sebastián Claro and published by . This book was released on 2002 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Murray Brown
Publisher :
ISBN 13 : 9780598269614
Total Pages : 0 pages
Book Rating : 4.2/5 (696 download)
Download or read book The Theory and Empirical Analysis of Production written by Murray Brown and published by . This book was released on 1967 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
