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: This paper developed a dynamic general-equilibrium framework in which growth is driven by skill-biased technology diffusion and provided an explanation for why more individuals invest in human capital when the investment premium is going down, and why the skill-premium goes up when the skills supply is increasing.
Abstract: We develop a dynamic general-equilibrium framework in which growth is driven by skill-biased technology diffusion. The model incorporates leisure–labor decisions and human capital accumulation through education. We are able to reproduce the trends in income inequality and labor and skills supplies observed in the United States between 1969 and 1996. The paper also provides an explanation for why more individuals invest in human capital when the investment premium is going down, and why the skill-premium goes up when the skills supply is increasing.
3 citations
Cites methods from "Capital-labor substitution and econ..."
...The CES production function was introduced by Arrow et al. (1961), and the elasticity of substitution is defined as 1/(1 − α)....
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TL;DR: In this article, the authors report the results of a twenty-year-longitudinal study of occupational structure in three of the largest and most intensive organizational users of IT in the United States.
Abstract: A central tenet of much popular and scholarlyliterature is that computers -and more broadly speaking"information systems"- bring about significant change inorganizations. Some scholars focus on changes inorganizational structure- the division of labor and itscoordination through authority and power (Blau, 1976;Danziger, et. d., 1982; Laudon, 1976; 1986; Keen 1981;Kling and Iacono, 1984; Orlikowski and Robey, 1991;Robey, 1981; Walton, 1989; Barley 1986; 1990) . Othersfocus on IT induced changes in the design of work(Zuboff, 1984; Bikson, et. al., 1985: Kraut, et. al., 1987;Sproull and Kiesler, 199 1; Turner, 1984; Iacono andKling, 1987). Still others have argued that ITsignificantly alters occupational structure inorganizations--the distribution of employment amongoccupations and skill classes of workers (Braverman,1984; Kling and Turner, 1987; Berndt, et. al., 1992;Howell and W e , 1993; Cyert and Mowry, 1988; 1989).In general, the impact of IT on occupational structure offirms and organizations is a neglected area of empiricalresearch despite the fact that scholars have strongopinions, and convincing theories, about suchoccupational shifts.In this paper we report the results of a twenty yearlongitudinal study of occupational structure in three of thelargest and most intensive organizational users of IT inthe United States. For benchmarking purposes we alsoexamine occupational change at the aggregate societylevel and in the federal government sector over a twentyyear period. The results of our research question theclaim that IT brings about significant change inoccupational structure. While the organizations weexamine did experience significant change inoccupational structure during periods of intensecomputerization, these changes did not conform totheoretical predictions and they were inconsistent fromone organization to another. We conc1ude thatorganizational occupational structures are quite stable inthe face of massive IT change and claims that IT bringsabout "revo1utionaryA¢Â¬Â? changes in organizational structurehave little empirical foundation even though there may beisolated cases where such rapid and drastic changes dooccur.
3 citations
01 Jan 2017
TL;DR: In this article, the authors used capital and labour services instead of capital stock and labour to estimate the Cobb-Douglas and more general CES aggregate production function and found that the modified estimate is only an estimate of income identity identity in disguise as predicted by the critique.
Abstract: Aggregate production function, especially in its Cobb-Douglas and more general CES form, is still very popular among economists However there is a huge and long-standing critique regarding the function The core of the criticism which prevailed until these days is that not only the Cobb-Douglas but also CES aggregate production functions are nothing more than income identity in disguise Such fact would have serious implications for contemporary macroeconomics ? both theory and practice In this paper we estimated Cobb-Douglas and CES production functions in traditional way Then we used capital and labour services instead of capital stock and labour We came to conclusion that to get statistically sound results when elasticities equal factor shares, it is necessary to use the latter approach to deal with the factor´s utilization However doing so revealed that such modified estimate is really only an estimate of income identity in disguise as predicted by the critique
3 citations
Cites background from "Capital-labor substitution and econ..."
...The standard CES function with constant returns to scale originating from Arrow et al. (1961) has the form...
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...The standard CES function with constant returns to scale originating from Arrow et al. (1961) has the form (𝑌𝑡) = 𝐴𝑡(𝛼(𝐾𝑡) −𝜌 + (1 − 𝛼)(𝐿𝑡) −𝜌) −( 1 𝜌 ) , (4) when ρ represents the degree of substitutability between production factors....
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TL;DR: In this paper , the authors present nine principles, three for each group, and compare some models with a claim to universality, and show that Gielis Transformations and power laws have a common origin in conic sections.
Abstract: A uniform description of natural shapes and phenomena is an important goal in science. Such description should check some basic principles, related to 1) the complexity of the model, 2) how well its fits real objects, phenomena and data, and 3) a direct connection with optimization principles and the calculus of variations. In this article, we present nine principles, three for each group, and we compare some models with a claim to universality. It is also shown that Gielis Transformations and power laws have a common origin in conic sections.
3 citations
01 Jan 2014
TL;DR: A review paper thronging light on the available models of productivity measurement, their critical analysis and the usability of these models in SMEs with the special emphasis is on systems approach as it found suitable for SMEs diversified environment.
Abstract: Productivity measurement has travelled a long way since the early period when it was first defined as the ratio of outputs to inputs. Since productivity is directly related with profit and in current scenario profits are getting thinner due to competitive environment, efficient supply chain management, use of information systems etc. is of interest to all. A lot of research has been done on productivity measurement till now. But since the society and the organizations are facing new challenges and opportunities all the time due to dynamic work environment, changing nature of operations, change in types of outputs and inputs, changing concept of quality etc., there is a need for exploring the trends and identifying new productivity measurement and improvement opportunities and challenges to orient productivity research for future. This is a review paper thronging light on the available models of productivity measurement, their critical analysis and the usability of these models in SMEs with the special emphasis is on systems approach as it found suitable for SMEs diversified environment.
3 citations
Cites background from "Capital-labor substitution and econ..."
...Arrow et al. (1961) proposed the constant elasticity of substitution production function which is limited to two inputs....
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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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