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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TL;DR: Based on a data envelopment analysis framework, the authors developed an indicator termed as carbon-weighted economic development (CWED) covering the dimensions of energy, environment, economy and resources to measure the economic development performance in a carbon-emission conscious economy.
17 citations
Cites background from "Capital-labor substitution and econ..."
...Capital stock and labor are regarded as the two basic resources of production by the classical economic theories (Arrow and Chenery, 1961; Solow, 1957)....
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TL;DR: The authors found that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those obtained from bilateral trade data when trade consists largely of intermediate inputs.
Abstract: This paper finds that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those obtained from bilateral trade data. In particular, the former tends to be higher than the latter when trade consists largely of intermediate inputs. Given that the variety of intermediate inputs traded across borders is increasing rapidly, and that the effect of this increase is not adequately captured in multilateral trade data, the evidence shows that the use of multilateral trade data to estimate Armington elasticities needs caution.
17 citations
TL;DR: A mathematical programming model aimed at optimizing infrastructure resilience against a set of adverse events by optimally allocating budget to the infrastructure components is proposed and shows that the utility function of a component impacts the resilience enhancement of the system.
17 citations
Cites background from "Capital-labor substitution and econ..."
...If the goal is to increase the resilience of the system from я = 0.73 to a resilience around я = 0.9, then CES with parameters (0.3, 0.1) would need a more budget....
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...Linear [31], Cobb–Douglas [31], and Constant Elasticity Substitution (CES) [32] are examples of...
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...If components have a CES utility with parameters (𝛾𝛾,𝜌𝜌) of (0.5,1), then system will reach to its highest resilience level for a budget greater than $100,000, while this budget limit is $50,000 for other parameters....
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...Linear [31], Cobb–Douglas [31], and Constant Elasticity Substitution (CES) [32] are examples of utility curves (Table 1)....
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...CES [32] UU(aa, rr) = CC kk (ββaaρρ + (1 − ββ)rrρρ) 1 ρρ rr = ((kkyy)ρρ − ββaaρρ) 1 ρρ 1 − ββ...
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TL;DR: In this article, a composite index called DEVI which merely consists of the "development goals indicators" was introduced, with the aim of better monitoring and assessing countries' sustainable development (SD) achievement rates.
Abstract: For the years of 2017 and 2018, the Sustainable Development Goals index (SDG index) includes around 80 global indicators for more than 150 parties (countries) to the United Nations, which makes it a very comprehensive multidimensional composite index for assessing their sustainable development (SD) achievement rates. As would be observed in the present study, when the comparison between countries on their progresses in well-being and economy is desirable, gathering indicators of both environmental and development pillars of the SD as performed in the SDG index construction can be misleading. Based on the SDG index and with the aim of better monitoring and assessing countries’ SD levels, the current study introduces a composite index called DEVI which merely consists of the “development goals indicators.” The DEVI showed a high correlation with the human development index. The lack of separation between the developed and developing countries in the SDGs is a disadvantage especially when various interactions with different countries are considered according to their different development levels. In this regard, by innovating a combined statistics-based algorithm, compatible with the available conventional lists for developed countries, countries are classified based on the similarities in their DEVI scores into the developed and developing countries. Applying this algorithm, it determined 43 and 40 countries as developed countries in 2017 and 2018, respectively.
17 citations
01 Jan 2012
TL;DR: In this paper, it was shown that a homothetic function f = F h satises the constant elasticity of substitution property if and only if the homogeneous function h is either a generalized Cobb-Douglas production function or a gen- eralized ACMS production function.
Abstract: Almost all economic theories presuppose a production function, either on the rm level or the aggregate level. In this sense the production func- tion is one of the key concepts of mainstream neoclassical theories. A homo- thetic function is a production function of the form f(x) = F (h(x1;:::;xn)), where h(x1;:::;xn) is a homogeneous function and F is a monotonically in- creasing function. The most common quantitative indices of production factor substitutability are forms of the elasticity of substitution. In this paper we prove that a homothetic function f = F h satises the constant elasticity of substitution property if and only if the homogeneous function h is either a generalized Cobb-Douglas production function or a gen- eralized ACMS production function. Some of its geometric applications will also be given in this paper.
17 citations
Cites background or result from "Capital-labor substitution and econ..."
...More precisely, we have the following (see [2, 6, 12] for details)....
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...Losonczi’s result generalizes and somewhat clarifies an analogous result of [2] (cf....
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...Solow [2] introduced another two-input production function given by Q = F · (aK + (1− a)L) 1 r , (2....
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References
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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.
1,031 citations
903 citations