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 present econometric models of producer behavior suitable for incorporation into a general equilibrium model and discuss an empirical application to modeling producer behavior in thirty-six industrial sectors of the U.S. economy.
Abstract: The purpose of this paper is to present econometric models of producer behavior suitable for incorporation into a general equilibrium model. Implementation of these models requires a time series of inter-industry transactions tables. Second, implementation requires methods for estimation of parameters in systems of nonlinear simultaneous equations. Finally, the economic theory of producer behavior implies equality and inequality restrictions on the parameters that must be incorporated into the estimation. We discuss an empirical application to modeling producer behavior in thirty-six industrial sectors of the U.S. economy.
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01 Jan 2011
TL;DR: In this article, the authors present the structure and the main properties of Three-ME, a new model of the French economy designed to evaluate the medium and long term impact of environmental and energy policies at macroeconomic and sector levels.
Abstract: This paper presents the structure and the main properties of Three-ME. This new model of the French economy has been especially designed to evaluate the medium and long term impact of environmental and energy policies at the macroeconomic and sector levels. To do so Three-ME combines two important features. Firstly, it has the main characteristics of neo-Keynesian models by assuming a slow adjustment of effective quantities and prices to their notional level. Compared to standard multi-sectors CGEM, this has the advantage to allow for the existence of under-optimum equilibriums such as the presence of involuntary unemployment. Secondly, production and consumption structures are represented with a generalized CES function which allows for the elasticity of substitution to differ between each couple of inputs or goods. This is an improvement compared to the standard approach that uses nested CES functions which has the disadvantage to impose a common elasticity of substitution between the goods located in two different nested structures.
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Cites methods from "Capital-labor substitution and econ..."
...As demonstrated by Arrow et al. (1961), Leontief and Cobb-Douglas functions are particular cases of a CES function whereη tends to 0 and 1 respectively....
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TL;DR: In this article, the authors discuss models used in econometrics and their application in structural analysis, forecasting, and policy evaluation, and show that models play a major role in all econometric studies, whether theoretical or applied.
Abstract: Publisher Summary This chapter discusses models used in econometrics. Models play a major role in all econometric studies, whether theoretical or applied. Defining econometrics as the branch of economics concerned with the empirical estimation of economic relationships, models, together with data, represent the basic ingredients of any econometric study. The theory of the phenomena under investigation is developed into a model that is further refined into an econometric model. This model is then estimated on the basis of data pertaining to the phenomena under investigation using econometric techniques. The investigation of economic and econometric models indicates that there is a wide range of models and applications. There are many approaches to modeling, and even in the standard linear stochastic algebraic model of econometrics there are many alternative specifications available. These models have been applied in many different areas—in fact, in virtually all areas of economics and in some related social sciences. The models have been used for various purposes, including structural analysis, forecasting, and policy evaluation.
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TL;DR: In this paper, the difference between infinite precision mathematics with which theorems are proven and finite precision computations with which computations are performed is often ignored, and it is shown that adding constraints can improve the computed maximum.
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TL;DR: In this article, a set of simple procedures for evaluating derivatives exactly, without the requirement to form their symbolic expressions and without resorting to finite-difference methods, are described. But the evaluation of high-order partial derivatives arise in many applications, including optimal control, system identification, and the numerical solution of nonlinear algebraic equations, two-point boundary value problems, and integral equations.
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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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