Capital-labor substitution and economic efficiency
Citations
206 citations
Cites background from "Capital-labor substitution and econ..."
...It is common knowledge that the first rigid derivation of the CES production function appeared in the famous Arrow et al. (1961) paper (hereafter ACMS).7 However, there were important forerunners, in particular the explicit mentioning of a CES-type production technology (with an elasticity of…...
[...]
...Solow and his coauthors publicly thanked Trevor for this insight (see Arrow et al, 1961)’....
[...]
204 citations
Cites background from "Capital-labor substitution and econ..."
...Pitchford (1960): Y = (aKV' + bLUV)/I1 Arrow et al. (1961): Y = C[aKv + (1 - a)LP]IN David and van de Klundert (1965): Y = [(BK)'P + (AL)III Barrow and Sala-i-Martin (1995): Y = C{a(BK)' + (1 - a)[(1 -B)L]' where V := (a - 1)/a...
[...]
...Arrow et al. (1961) and Brown and de Cani (1963) took care of the latter child by developing a sound theoretical and econometric foundation for the CES function....
[...]
195 citations
195 citations
194 citations
References
10,850 citations
3,961 citations
1,031 citations