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 article, the authors determine the optimum normalization for finite samples, based on the correlation coefficient between the ith endogenous variable and the disturbance, and measure endogenousness by p 2 i, and show that subject to several important qualifications, one should normalize on the most endogenous variable.
Abstract: Frequently, in estimating an equation, one is interested in a particular set of normalized coefficients. There is still a normalization problem, however, for if an equation contains m 1 endogenous variables, there are m 1 ways to estimate the same coefficients. The purpose of this article is to determine the optimum normalization for finite samples. Restricting the analysis to k-class estimators and employing Kadane's small sample technique [9], let p 2 i denote the correlation coefficient between the ith endogenous variable and the disturbance. Then, measuring “endogenousness” by p 2 i , this article shows that subject to several important qualifications, one should normalize on the most endogenous variable.
3 citations
Cites background from "Capital-labor substitution and econ..."
...For example, in estinmating production functions, Arrow, Chenery, Minhaus, and Solow [1] were interested in estimating the elasticity of substitution, E, given by the inormalization:...
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01 Jan 1984
TL;DR: In the last decade several fields of economic theory derived great benefit by the consequent application of functional equation methods as mentioned in this paper, such as neutral technical progress, price index, and oligopoly-theory.
Abstract: During the last decade several fields of economic theory derived great benefit by the consequent application of functional equation methods. These applications refer to such different fields as
the theory of neutral technical progress
the theory of the price index
marketing-theory
the measurement of economic inequality
oligopoly-theory.
3 citations
3 citations
TL;DR: In this article, economic theory is used to derive a new model and the previous logistic type models are shown to be special cases of the new model, which can be used to forecast future atmospheric CO 2 levels.
3 citations
TL;DR: In this article, the economic effects of European Funds on recipient countries are not without controversy, and the authors focus on the productivity coefficients of CES production functions in a multisectoral, interdependent general equilibrium model.
Abstract: The economic effects of European Funds on recipient countries are not without controversy. We propose to study this issue focusing on the productivity coefficients of CES production functions in a multisectoral, interdependent general equilibrium model. We adopt the calibration techniques typically used in computational general equilibrium modelling to estimate a numerical improvement in the productivity coefficients of the CES functions. The array of different funds belongs to two broad categories associated with the two types of primary factors, labour and capital, that determine the output. Once we estimate the change in productivity coefficients in labour and in capital, we introduce them into a computable general equilibrium model and simulate their effects, all else being equal, in order to quantify their likely economy-wide effects.
3 citations
Cites background from "Capital-labor substitution and econ..."
...The constant-returns-to-scale CES production function (Arrow et al. 1961) adopts the expression:...
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...The constant-returns-to-scale CES production function (Arrow et al. 1961) adopts the expression: X ¼ θ aL Lð Þρ þ aK Kð Þρð Þ 1 ρ (1) This flexible function is widely used in multisectoral general equilibrium because it provides a wide range of substitution possibilities in the technology and its…...
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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