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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Dissertation•
01 Jan 2010
TL;DR: Zhao et al. as discussed by the authors empirically examined the relationship between the distance elasticities of land prices and housing prices and found that land prices are more elastic with respect to distance from the city center than housing prices.
Abstract: Title of Document: MARKET FORCES AND URBAN SPATIAL STRUCTURE: EVIDENCE FROM BEIJING, CHINA. Xingshuo Zhao, Doctor of Philosophy, 2010 Directed By: Dr. Chengri Ding, Urban Studies and Planning Program This dissertation contributes to the literature on urban spatial structure by addressing two research questions. First, it empirically examines the urban economic theory by testing the relationship between the distance elasticities of land prices and housing prices. The theory indicates that land prices are more elastic with respect to distance from the city center than housing prices; in other words, land prices decline faster than housing prices. Using data from Beijing, which include matched housing and land prices, my findings support the theory. Second, this dissertation investigates the impacts of housing services production in general and the impacts of the capital-land substitution in particular on urban spatial structure. Using a constant elasticity of substitution (CES) production function for housing services, I theoretically derive the impacts of the elasticity of capital-land substitution on urban spatial structure, which is measured in terms of the distance gradients of land prices and capital densities, the housing output per unit of land, and the ratio of the distance elasticity of land prices to the distance elasticity of housing prices. The derived results suggest that an increase in the elasticity of capitalland substitution leads to increases in the land price, the capital density, and the housing output per unit of land at any location within the city, flattening of the land price and capital density curves, an increase in the ratio of the distance elasticity of land prices to the distance elasticity of housing prices, an expansion of the city boundary, and a growth in the population. These theoretical results are verified by numerical simulations and empirical estimations using the Beijing data. The simulations also reveal the magnitudes of these impacts: a 1% change in the elasticity of capital-land substitution leads to 15-20% changes in the total land value and housing output. The findings of this dissertation have practical implications in housing market behaviors, land value assessment for property taxation, and urban land use policy and planning. MARKET FORCES AND UBAN SPATIAL STRUCTURE: EVIDENCE FROM BEIJING, CHINA.
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Cites methods from "Capital-labor substitution and econ..."
...as ∞ → S , ρ δ γ 1 ) 1 ( − − → h , and as 0 → S , 0 → h (Arrow et al. 1961)....
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...19 The CES production function was introduced by Solow (1956) and formally developed by Arrow et al. (1961)....
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...On the contrary, when 1<σ , using the CES production function to describe housing services production makes sense, as shown in (19), when 1<σ (or 0>ρ ), as ∞→S , ρδγ 1 )1( − −→h , and as 0→S , 0→h (Arrow et al. 1961)....
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...…parameter and is positive; δ is the non-neutral distribution parameter, reflecting the intensiveness of capital use in production and should be positive and smaller than unity. ρ is the 19 The CES production function was introduced by Solow (1956) and formally developed by Arrow et al. (1961)....
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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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903 citations