Capital-labor substitution and economic efficiency
TL;DR: In this article, the authors proposed a method to improve the quality of the service provided by the service provider by using the information of the user's interaction with the provider and the provider.
Abstract: Обсуждаются следующие темы: чистая теория производства, функциональное распределение дохода, технический прогресс, источники международных конкурентных преимуществ. Анализируются эластичность замещения между трудом и капиталом в обрабатывающей промышленности; производственные функции различного типа.
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01 Jun 1969
TL;DR: The homogeneous and the homothetic production functions do not have many properties which are of interest in production theory, so the functional equation Φ(λx)=ϕ(λ,x/|x|)Φ(x) is introduced which is a generalization of the functional equations.
Abstract: Die Klassen der homogenen und (allgemeiner:) der homothetischen Produktionsfunktionen sind aus verschiedenen Grunden fur viele Zwecke der Produktionstheorie zu eng. Deshalb wird die im Vergleich zur FunktionalgleichungΦ(λx)=λ
α
Φ(x) der vom Grade α>0 homogenen Produktionsfunktionen allgemeinere FunktionalgleichungΦ(λx)=ϕ(λ,x/|x|)Φ(x) eingefuhrt und auf vom Standpunkt der Produktionstheorie interessante Losungen hin untersucht. Es zeigt sich, das eine ProduktionsfunktionΦ dann und nur dann einer Gleichung dieser Art genugt, wennϕ eine ganz bestimmte Form hat. Nichtsdestoweniger ist die so definierte Klasse von Produktionsfunktionen sehr viel allgemeiner als die der homogenen Produktionsfunktionen; dies wird anhand von Beispielen gezeigt, die die in der Arbeit erwahnten Mangel der homogenen und der homothetischen Produktionsfunktionen nicht besitzen.
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TL;DR: In this article, the authors propose a representation of individual preferences with a subsistence requirement in consumption, and examine its implications for substitutability and sustainability, and further show that the subsistence requirement may jeopardize the existence of an intertemporally optimal and sustainable consumption path.
Abstract: We propose a representation of individual preferences with a subsistence requirement in consumption, and examine its implications for substitutability and sustainability. Specifically, we generalize the standard constant-elasticity-of-substitution (CES) utility specification for manufactured goods and environmental services, by adding a subsistence requirement for environmental services. We find that the Hicksian elasticity of substitution strictly monotonically increases with the consumption of environmental services above the subsistence requirement, and approaches the standard CES value as consumption becomes very large. Whether the two goods are market substitutes depends on the level of income. We further show that the subsistence requirement may jeopardize the existence of an intertemporally optimal and sustainable consumption path. Our results have important implications for growth, development and environmental policy.
18 citations
TL;DR: In this paper, the authors study the effects of international outsourcing on equilibrium unemployment in a high-wage economy with labour market imperfections and show that the wage elasticity of labour demand is increasing as a function of outsourcing.
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TL;DR: In this paper, the authors developed an innovative approach that combines three physical climate simulations (Geophysical Fluid Dynamics Laboratory model, Goddard Institute of Space Studies model, and the United Kingdom Meteorological Office climate model) with a general equilibrium model of global trade in order to study the real economic impacts of climate change.
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TL;DR: In this article, the authors proposed a method to improve the performance of the system by using the information of the user's interaction with the system and the system itself, including the interaction between the two parties.
Abstract: В статье производится анализ агрегированной производственной функции, вводится аппарат, позволяющий различать движение вдоль такой функции от ее сдвигов. На основании сделанных в статье предположений делаются выводы о характере технического прогресса и технологических изменений. Существенное внимание уделяется вариантам применения концепции агрегированной производственной функции.
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01 Jan 1956TL;DR: In this paper, a very brief treatment of three questions relating to the history of our economic growth since the Civil War is given, namely: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart
Abstract: Introduction This paper is a very brief treatment of three questions relating to the history of our economic growth since the Civil War: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart from the shortterm fluctuations of business cycles, and, if so, what is the significance of these swings? The answers to these three questions, to the extent that they can be given, represent, of course, only a tiny fraction of the historical experience relevant to the problems of growth. Even so, anyone acquainted with their complexity will realize that no one of them, much less all three, can be treated satisfactorily in a short space. I shall have to pronounce upon them somewhat arbitrarily. My ability to deal with them at all is a reflection of one of the more important, though one of the less obvious, of the many aspects of our growing wealth, namely, the accumulation of historical statistics in this country during the last generation. For the most part, the figures which I present or which underlie my qualitative statements are taken directly from tables of estimates of national product, labor force, productivity, and the like compiled by others.
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903 citations