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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02 Nov 2017
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TL;DR: In this paper, the determinants of public investment under autocratic regimes were studied and the optimal investment level was found to balance rent extraction with increasing the future tax base and preventing social unrest.
Abstract: This paper studies the determinants of public investment under autocracy. The optimal investment level balances rent extraction with increasing the future tax base and preventing social unrest. The citizens balance their time between producing and protesting. The labor supply is downward distorted. The public investment level suffers three downward distortions and a fourth, potentially upward distortion. The joint distortions can generate moderate to large efficiency losses. Empirically we show that government spending in autocracies varies more and is less related to tax collections than in democracies. Additionally, it responds to democratization pressure.
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TL;DR: In this article, the authors investigated the effect of minimum wage on the employment of Russian workers and found that the magnitude of employment responses to minimum wages is associated with the elasticity of capital-labor substitution.
Abstract: This paper investigates the unemployment effects of the Russian minimum-wage policy. The results suggest that higher minimum wages slightly increase unemployment rates among young workers but do not affect the older workforce. The textbook theory of producer is employed to rationalize the findings, showing that the magnitude of employment responses to minimum wages is associated with the elasticity of capital-labor substitution. Moreover, industries employ more workers informally if they cannot exercise capital-labor substitution easily. In line with the revealed unemployment among youth and informalization of the economy induced by the intervention, the findings show limited income effects of the policy.
2 citations
01 Jun 2020
TL;DR: In this article, the authors identify the technological characteristics of the paper manufacturing industry in the Valley of Mexican Basin (VMB), a densely populated region characterized by absolute water scarcity, in order to quantify the intensity with which water is used.
Abstract: This article identifies the technological characteristics of the paper manufacturing industry in the Valley of Mexican Basin (VMB)—a densely populated region characterized by absolute water scarcity—in order to quantify the intensity with which water is used. The method consisted of modeling the paper industry’s technology estimating Cobb-Douglas production functions at two moments in time. The comparison of both functions makes it possible to identify water saving technologies during this period, and to evaluate whether the industry has made adjustments to deal with water restrictions. The data is obtained from the Economic Censuses of the National Institute of Statistics Geography and Informatics 2009 and 2014. While our work must be considered preliminary owing to the somewhat irregular nature of the data, certain clear conclusions do stand out. The paper industry located in the VMB has drastically reduced its water usage during the period of time analyzed. This is explained by the adoption of water saving technologies in the industry. In the process, an increase in capital is the main variable to explain such a technical change. This is expressed in the manner in which water and capital inputs appear to be highly suitable substitutes in paper manufacturing.
2 citations
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TL;DR: In this paper, the authors examined detailed Census data for 37 selected manufacturing industries for 1947, 1954, 1958, and 1963 for comparison with the Jorgenson analysis, and found that there are very few cases where the indicators of scale effect are consistent.
Abstract: Empirical studies of returns to scale are rather limited. Ideally, cross section samples of plants might be used, but we propose that valid conclusions can be drawn from timeseries data. Jorgenson (1972) cites the work of Bain (1956) and Kamerschen (1968), and proposes a model where changes in industry concentration ratios are used as a "crude test" for stability of the size distribution of firms within an industry, the latter indicating the nature of returns to scale. In this paper, we examine detailed Census data for 37 selected manufacturing industries for 1947, 1954, 1958, and 1963 for comparison with the Jorgenson analysis. Unlike Jorgenson we use measures of the size distribution of employment (mean and variance) among establishments within each industry, for comparison with the concentration ratios, and find that there are very few cases where the indicators of scale effect are consistent.
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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