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 1966
TL;DR: Sheshinski and Solow as discussed by the authors consider a production model in which machines embody the technology of their date of construction and obsolescence takes its toll when rising wages absorb the revenues from a particular machine.
Abstract: Title: Essays on the Theory of Production and Technical Progress Author: Eytan Sheshinski In the first chapter we consider a production model in which machines embody the technology of their date of construction and obsolescence takes its toll when rising wages absorb the revenues from a particular machine. The length of life of machines is a variable that is determined by equilibrium conditions. Chapter II analyses a model in which the freedom to choose techniques with varying capital-labor ratios exists only before a machine is constructed but not later (ex-ante but not ex-post). Chapter III provides a generalization of the former: there may be some scope for variation in labor requirements ex-post, but not as much as ex-ante. In all these chapters we discuss conditions of short-run equilibrium and we prove that, under certain conditions, any equilibrium solution converges asymptotically to a unique balanced growth path in which the vintage distribution of capital remains stationary. In Chapter IV we consider a multi-sectoral model in which a number of discrete activities are available to each sector. The analysis concentrates on the recently-revived question of whether it is possible to order the techniques that are chosen at each rate of interest, such that their choice is a monotonic function of the rate of interest. It is shown that in general no such order exists, although conditions that ensure its existence can be formulated. Chapter V is a comparison of the characteristics of socially optimum and competitive paths of capital accumulation in an aggregative model in which technical progress is viewed as a process of learning by doing. We adopt Arrow' s hypothesis that learning by doing is measured by cumulated gross investments. The implications of the hypothesis for prices and equilibrium conditions in the two-sector case are briefly dis cus s ed. Chapter VI presents an empirical research on the significance of the learning by doing hypothesis. While in most cases the "learning coefficients" prove to be positive, their significance and, in particular, their interpretation as technical progress (and not, say, conventional economies of scale) is ambiguous. Thesis supervisor: Robert M. Solow Title: Professor of Economics Department of Economics and Social Science ii
7 citations
7 citations
03 Oct 2005
TL;DR: This paper experimentally explores the gray zone between the general problem and the poly-time solvable special cases, and analyzes the performance of some simple algorithms, for inputs which are relevant in practice, and where the theory does not providepoly-time guarantees.
Abstract: The best known algorithms for the computation of market equilibria, in a general setting, are not guaranteed to run in polynomial time. On the other hand, simple poly-time algorithms are available for various restricted – yet important – markets.
In this paper, we experimentally explore the gray zone between the general problem and the poly-time solvable special cases. More precisely, we analyze the performance of some simple algorithms, for inputs which are relevant in practice, and where the theory does not provide poly-time guarantees.
7 citations
Dissertation•
01 Jan 2009
TL;DR: A new method is proposed to evaluate the experience of presence within technology-mediated environments and a process model is proposed for visual-haptic perception of compliance.
Abstract: A presence system allows a human operator to be present in a different environment by commanding a teleoperator through a human system interface. The quality of the experience is increased by reflecting multimodal information of the target environment. This thesis deals with visual-haptic presence systems. Firstly, a new method is proposed to evaluate the experience of presence within technology-mediated environments. Secondly, explorative studies are presented and a process model is proposed for visual-haptic perception of compliance. Thirdly, lossy compression methods are proposed to passively reduce force and velocity data.
7 citations
Journal Article•
TL;DR: In this paper, the authors examined the two-level nested Constant Elasticity of Substitution production function where both capital and labor are disaggregated in two classes and proposed a normalized system estimation method to retrieve estimates of the inter-and intra-class elasticities of substitution and factor augmenting technical progress coefficients.
Abstract: We examine the two-level nested Constant Elasticity of Substitution production function where both capital and labor are disaggregated in two classes. We propose a normalized system estimation method to retrieve estimates of the inter- and intra-class elasticities of substitution and factor augmenting technical progress coefficients. The system is estimated for US data for the 1963-2006 period. Our findings reveal that skilled and unskilled labor classes are gross substitutes, capital structures and equipment are gross complements, and aggregate capital and aggregate labor are gross complements with an elasticity of substitution close to 0.5. We discuss the implications of our findings and methodology for the analysis of the causes of the increase in the skill premium and, by implication, inequality in a growing economy.
7 citations
Cites background from "Capital-labor substitution and econ..."
...where a and b are two arbitrary constants of integration with the following correspondence with the original Arrow et al. (1961) non-normalized form, which, after some rearrangements, can be presented in conventional form:...
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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.
10,850 citations
3,961 citations
Book•
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
903 citations