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: In this paper, the authors explore the usefulness of embodied technical change for providing insight into sources of the growth in output of the former Soviet republic of Russia over a substantial period of more than three decades.
Abstract: One of the most fascinating aspects of Soviet economic development has been the remarkable pace in growth of aggregate output maintained over the substantial period of more than three decades. The pace has been remarkable, though not completely unprecedented, and there need be little doubt about its authenticity. Thanks largely to Professors Abram Bergson, Warren Eason, and Raymond Powell, to Dr. Richard Moorsteen, and to Nancy Nimitz there exists a carefully prepared and consistent record of Soviet Russia's gross national product, capital stock, and labor inputs for the period 1928 through 1961 [4] [13]. In table 1 a portion of this basic record on Soviet economic development is reproduced. The primary purpose of this paper is to explore the usefulness of the hypothesis of embodied technical change for providing insight into sources of the growth in output. II Alternative Aggregate Production Functions and Soviet Growth
11 citations
Cites background from "Capital-labor substitution and econ..."
...Recent estimates [1], [6], [11], [12] for the United States and for other economies suggest values substantially less than the unity frequently assumed, often more on the order of one-half....
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TL;DR: In this paper, the authors compared the relative effectiveness of two different methods of meeting the Clean Air Plan goals outlined in the 2003 Clean Air Action Plan (CAP) and found that, irrespective of the type of strategy directed at improving environmental quality that is followed, both output and consumption decline, as does household utility, and that there is a quantifiable trade-off between economic activity (economic growth) and the quality of the environment.
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TL;DR: This paper investigates the elasticity of substitution between four inputs—capital, labor, energy, and material—with the translog cost approach for a wide range of industries in Germany by incorporating the slow adjustment process in factor substitution and suggests that the dynamic models have greater explanatory power.
Abstract: This paper investigates the elasticity of substitution between four inputs-capital, labor, energy, and material-with the translog cost approach for a wide range of industries in Germany by incorporating the slow adjustment process in factor substitution. To this end, we take advantage of EU KLEMS database covering a wide range of industries and consider two models. The first is the static model, in which instantaneous and complete substitution adjustments are assumed. The other model, referred to as dynamic, takes into account the slow adjustment process and applies this to the cost share equations which are estimated using Zellner's seemingly unrelated regression. The empirical results suggest that (i) the dynamic models have greater explanatory power than the static models; (ii) the production process at the national or industry level in Germany is mainly characterized by a complementarity or weak substitutability between energy and other inputs, which limits German government's ability to reduce energy use through factor substitution; (iii) among four factor prices, energy demand seems to be more sensitive to changes in the price of material, followed by labor. Hence, an increase in energy prices can be efficient to some extent in order to reduce energy use; (iv) there is a substantial industry heterogeneity in Germany in terms of both input substitution and its adjustment process. Therefore, strategies to mitigate CO2 emissions through input substitution channel should be designed at the industry level based on the industry-specific needs and peculiarities. It is because well-designed comprehensive policies that consider different structures of industries could help to achieve a carbon-neutral economy for Germany.
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01 Feb 2019
TL;DR: In this article, the authors present a table of contents and a list of tables and figures for each of the following categories: Table of contents, Table of Figures, Figures, Equations, and Abbreviations.
Abstract: .................................................................................................................................. iii Acknowledgments ................................................................................................................... vi Table of contents .................................................................................................................... vii List of Tables .......................................................................................................................... xii List of Figures....................................................................................................................... xvii List of Equations ....................................................................................................................xix List of Abbreviations ..............................................................................................................xxi Chapter
10 citations
Cites background from "Capital-labor substitution and econ..."
...Examples of CES production function with two factors and more can be found in Arrow et al. (1961)....
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TL;DR: This paper presents a unified approach to production, matching, and distribution in an environment with labor market frictions using competing auctions as both a wage determination mechanism and a microfoundation for an aggregate production and matching technology.
Abstract: This paper presents a unified approach to production, matching, and distribution in an environment with labor market frictions. I use competing auctions as both a wage determination mechanism and a microfoundation for an aggregate production and matching technology. For any well-behaved distribution of firm productivities, I show that the aggregate production function exhibits standard neoclassical properties and an elasticity of substitution between capital and labor that is always less than or equal to one. If the distribution is Pareto or power law, this function is particularly tractable. In general, factor income shares vary with the degree of competition between firms to hire workers, the value of non-market activity, and characteristics of the underlying firm productivity distribution. Unlike Diamond-Mortensen-Pissarides style search models with Nash bargaining, production and distribution are endogenously tightly connected: the economy satisfies a generalized version of the Hosios condition.
10 citations
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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