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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01 Oct 1973
TL;DR: In this article, the OSU Extension catalog is updated with up-to-date information in the OSUC Extension Catalog: http://extensionoregonstateedu/catalog.html.
Abstract: Published October 1973 Facts and recommendations in this publication may no longer be valid Please look for up-to-date information in the OSU Extension Catalog: http://extensionoregonstateedu/catalog
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Posted Content•
TL;DR: In this article, the authors present a survey of the state-of-the-art technologies used in the field of data collection and analysis in the context of data mining. But their focus is on data collection, not data analysis.
Abstract: В настоящей работе описывается динамическая стохастическая модель общего равновесия для малой открытой экономики с высокой зависимостью от экспорта нефти. Особенностью предлагаемой модели является многотоварная структура, в рамках которой нефть как экспортируется, так и используется в качестве фактора производства торгуемых и неторгуемых товаров. В модели также предполагается существование номинальных и реальных жесткостей, наиболее часто используемых в литературе: жесткостей цен и заработных плат, привычек в потреблении домохозяйств, издержек на установку капитала и издержек загрузки капитальных мощностей. В качестве одного из практических применений откалиброванной модели анализируется эффект от изменения мировых цен на нефть.
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Additional excerpts
...[6] и обобщены до двухуровневой функции Сато [63], но в дальнейшем стали довольно активно использоваться для описания потребительского выбора....
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TL;DR: In this article, the elasticity of substitution is used to calibrate the impact of various exogenous changes by simply estimating the elasticities of substitution for any number of sectors, and the results are consistent with the theory.
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TL;DR: In this article, the authors reviewed the recent development in the importance of the elasticity of substitution between capital and labour (σ) in economic growth and the asymptotic behavior of the balanced growth path for different values of σ.
Abstract: Purpose – Although the importance of the elasticity of substitution between capital and labour (σ) has been recognized in many areas in economics, this parameter has not received enough attention in economic growth The purpose of this paper is to review the recent development in the importance of σ in economic growthDesign/methodology/approach – This paper specifically reviews the possibility of perpetual growth and slowdown, and the asymptotic behaviour of the balanced growth path for different values of σ It also reviews the determinants of the aggregate σFindings – Based on the empirical evidence that the value of σ significantly departs from the Cobb‐Douglas value of unity, the paper recommends employing the constant elasticity of substitution (CES) production function in both theoretical and empirical growth researchOriginality/value – This paper offers a new perspective on the elasticity of substitution between capital and labour due to its evaluation of various factors, methods and approaches
5 citations
14 Apr 2017
TL;DR: In this paper, the additive constant elasticity of transformation (CET) functional form has been widely used in CGE models for handling land heterogeneity, however, the CET approach cannot provide traceable land use change results since land productivity changes due to land transformation are implicitly adjusted by shifting effective land supply so that results are "effective land" rather than physical land.
Abstract: The constant elasticity of transformation (CET) functional form has been widely used in CGE models for handling land heterogeneity. However, the CET approach cannot provide traceable land use change results since land productivity changes due to land transformation are implicitly adjusted by shifting effective land supply so that results are “effective land” rather than physical land. In this study, we proposed a framework in which land transformation is physically modeled using the additive CET (ACET) approach while land productivity changes due to transformation are adjusted from land demand in production. We decomposed land productivity changes technical shifters using ACET. We demonstrated that implementing a same land productivity change technical shifter from either land supply side or land demand side are equivalent in non-land market equilibrium. For the purpose of this study, we build a simple CGE model and design experiments to comparing CET with ACET and to testing the sensitivity of two new margin responses including land productivity response due to transformation and the multiple cropping and unused land response. We demonstrated that the ACET approach plus the land productivity adjustments provide a promising alternative to the CET approach in modeling land supply in CGE model, despite that more careful studies are necessary for calibrating parameters for important responses.
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Cites background from "Capital-labor substitution and econ..."
...The two functional forms are identical except the sign determining their concavity (Arrow et al., 1961; Powell and Gruen, 1968)....
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References
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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
903 citations