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Journal ArticleDOI

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.
Citations
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Journal ArticleDOI
TL;DR: In this article, factor productivity in agriculture is estimated from repeated observations on a sample of fifty-eight countries under the assumption that all countries have access to the same technology, and the choice of the implemented techniques is determined by the state variables, which represent the physical and economic environment within which the firms operate.
Abstract: Factor productivity in agriculture is estimated from repeated observations on a sample of fifty-eight countries under the assumption that all countries have access to the same technology. Technology is viewed as a collection of techniques; each technique is represented by a production function. The choice of the implemented techniques is determined by the state variables, which represent the physical and economic environment within which the firms operate. The statistical model is that of varying coefficients, and it is estimated by a method which utilizes principal components and multiple comparisons.

92 citations

Book ChapterDOI
TL;DR: In this paper, the authors describe computable general equilibrium (CGE) modeling and the history of its development and discuss its achievements, failures, and potential, and illustrate the computation of solutions for CGE models and reviews its achievements and failures.
Abstract: Publisher Summary This chapter describes computable general equilibrium (CGE) modeling and the history of its development. The chapter illustrates the computation of solutions for CGE models and reviews its achievements, failures, and potential. The model illustrated in the chapter can be used in two ways: as a single-period model suitable for comparative–static analyses; and as a model for multi-period forecasting. Before CGE models, there were input–output models that emphasized input–output linkages among industries. CGE models go beyond input–output models by linking industries via economy-wide constraints including constraints on the size of government budget deficits; constraints on deficits in the balance of trade; constraints on the availability of labor, capital, and land; and constraints arising from environmental considerations, such as air and water quality. Much of CGE modeling has been concerned with the welfare implications of proposed policy changes—for example, changes in protection, changes in taxes, and changes in environmental regulations. Many interesting welfare results have been obtained, especially in the analysis of tax changes.

92 citations

Book ChapterDOI
TL;DR: In this article, the authors use the concept of agency to analyze the split between ownership and control in a large, public corporation, and suggest the sort of device that might be expected to emerge to avert the slippage in diffuse agency relationships.
Abstract: Publisher Summary Some of the most conspicuous and intriguing international differences in institutions lie in the control, ownership, and integration of enterprises. It is widely accepted that Coase's classic question—Why does the boundary between the firm and the market fall where it does?—is answered by identifying the transaction–cost advantages that may attach to either the market or the firm as allocators of resources. The actual boundaries are drawn in a Darwinian process by which the more efficient institution displaces the less efficient one. If this Darwinian competition worked the same way in every country and the transaction–cost efficiencies of firms and markets have been independent of laws, cultural traits, and other distinguishing traits of nationhood, then the allocation between firms and markets should be expected to differ only inessentially from country to country. If industrial groups' roles are related to the diversification and internalization, they also show affinity for the problem of agency in the ownership and control of firms. The concept of agency provides the tool needed to analyze the split between ownership and control in the large, public corporation, and it suggests the sort of device that might be expected to emerge to avert the slippage in diffuse agency relationships.

91 citations

Journal ArticleDOI
TL;DR: The purposes of the article are to motivate the use of a value model for homeland security decision making and to illustrate its use to assess terrorism risks, assess the benefits of countermeasures, and develop a severity index for terrorism attacks.
Abstract: One of the most challenging tasks of homeland security policymakers is to allocate their limited resources to reduce terrorism risks cost effectively. To accomplish this task, it is useful to develop a comprehensive set of homeland security objectives, metrics to measure each objective, a utility function, and value tradeoffs relevant for making homeland security investments. Together, these elements form a homeland security value model. This article develops a homeland security value model based on literature reviews, a survey, and experience with building value models. The purposes of the article are to motivate the use of a value model for homeland security decision making and to illustrate its use to assess terrorism risks, assess the benefits of countermeasures, and develop a severity index for terrorism attacks.

90 citations

Journal ArticleDOI
TL;DR: In this article, the authors focus on the measurement of production functions and marginal productivities by the political economist, Paul Douglas, and present an illustration of the econometric measurements on the supply of factors of production.
Abstract: Focuses on the measurement of production functions and marginal productivities by the political economist, Paul Douglas. Presentation of the econometric measurements on the supply of factors of production; Illustration of econometric techniques; Successors of the works of Douglas. (From Ebsco)

88 citations

References
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Journal ArticleDOI
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

Journal ArticleDOI

3,961 citations

Book
01 Jan 1956
TL;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

Book
01 Jan 1938

926 citations