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: An improved PSO (particle swarm optimization) algorithm with high precision and fast convergence is presented and the empirical analysis of the contribution rates of all factors influencing China’s economic growth is performed.
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TL;DR: In this paper, the authors examined the impact of an increase in the gasoline tax and the imposition of a tax on crude oil and natural gas on the United States economy and found that a 10 cents per gallon tax increase on gasoline would result in lower output by the producing sectors, lower consumption of goods and services, and a reduction in welfare (by about $7.607 billion).
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TL;DR: In this article, the authors present a simple analytical framework that overcomes these deficiencies and then evaluate, against clear standards, whether the extent of underutilization in fact is greater in less-developed economies than in advanced economies.
Abstract: "Labour-surplus" and "capital-shortage" have long been used to characterize underdeveloped economies. However, we are increasingly concerned that most (if not all) capital-poor, underdeveloped economies are afflicted with under-utilization of scarce capital in their manufacturing sectors. Kim (1969) presented a statistical estimate of sectoral capital coefficients in a number of countries with results that support the hypothesis of under-utilization. Winston's (1971, 1974d) analysis of Pakistan found the level of industrial capital utilization in the order of 14 per cent. More recently, Kim and Kwon's (1973) study of the manufacturing sector in South Korea showed that the average aggregate utilization rate (exclusive of heavy electricity-using and continuous process industries) during 1962 through 1971 ranged between 13 to 17 per cent depending on the choice of alternative measures. These estimates from the two underdeveloped economies compare with 23 per cent utilization of US manufacturing capital in 1962. All these estimates are based on Foss' measure (1963), which gives the number of hours a given equipment is operated in a 8,760-hour year (365 days times 24 hours), expressed in percentages. Accepted theories cannot evaluate the economic significance of these findings. Two shortcomings are central: (1) "under-utilization" or "excess capacity" denotes a situation in which actual utilization of capital is below a level that is optimal in some clearly defined sense, yet that optimal level is rarely defined; and (2) that optimal level of utilization is neither a twenty-four-hour-a-day maximum nor an engineering constant. Instead it is part of an economic decision and responds to economic variables. It is the purpose of this paper to present a simple analytical framework that overcomes these deficiencies and then to evaluate, against clear standards, whether the extent of under-utilization in fact is greater in less-developed economies than in advanced economies. The results of past statistical studies convey two related facts. First, on the basis of inter-country comparisons, a positive (or at least, nonnegative) relationship seems to prevail between the sectoral output/ capital-stock ratio and the level of economic development (Kim, 1969). Secondly, on the basis of individual country studies, albeit limited, there appears to be a positive relationship between the utilization of capital stock (hours of operation) of either manufacturing as a whole or individual manufacturing sectors and the level of economic development (Bureau of the Census, 1966-; Foss, 1963; Kim and Kwon, 1973; 377
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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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