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 Jan 2019
TL;DR: In this article, a production function based on a family of semi-parametric artificial neural networks that are rich in parameters is proposed, in order to impose all the properties that modern production theory dictates.
Abstract: We present a production function, which is based on a family of semi-parametric artificial neural networks that are rich in parameters, in order to impose all the properties that modern production theory dictates. Based on this approach, this specification is a universal approximator to any arbitrary production function. All measures of interest, such as elasticities of substitution, technical efficiency, returns to scale, and total factor productivity, also are derived easily. We illustrate our proposed specification using data for sectors of the US economy. The proposed specification performs very well and the US economy is characterized by approximately constant RTS and moderate TFP, a finding that is consistent with previous empirical work.
2 citations
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TL;DR: In this paper, the authors explore the relationship between the Buckingham Pi theorem and statistical invariance and propose an extension of the Pi theorem that puts it in a stochastic framework and quantifies uncertainties in deterministic physical models.
Abstract: This paper addresses two fundamental features of quantities modeled and analysed in statistical science, their dimensions (e.g. time) and measurement scales (units). Examples show that subtle issues can arise when dimensions and measurement scales are ignored. Special difficulties arise when the models involve transcendental functions. A transcendental function important in statistics is the logarithm which is used in likelihood calculations and is a singularity in the family of Box-Cox algebraic functions. Yet neither the argument of the logarithm nor its value can have units of measurement. Physical scientists have long recognized that dimension/scale difficulties can be side-stepped by nondimensionalizing the model; after all, models of natural phenomena cannot depend on the units by which they are measured, and the celebrated Buckingham Pi theorem is a consequence. The paper reviews that theorem, recognizing that the statistical invariance principle arose with similar aspirations. However, the potential relationship between the theorem and statistical invariance has not been investigated until very recently. The main result of the paper is an exploration of that link, which leads to an extension of the Pi-theorem that puts it in a stochastic framework and thus quantifies uncertainties in deterministic physical models.
2 citations
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TL;DR: In this paper, the authors examined the impact of the decrease in oil production on major economies using a computable general equilibrium model and found that the oil exporting economies increase their GDPs, the utilities and the terms of trade.
Abstract: The world's oil consumption has been increasing for more than a century with a few exceptions. However, there would be a possibility that the recent increase in oil consumption in developing countries such as China and India tighten the long term oil market. Since the exact amount of oil reserves is unknown, it is difficult to predict when the ultimate decrease in oil production will come. However, for the last two decades, the amount of oil consumption per year has surpassed the amount of oil reserves newly found. Therefore, the possibility of ultimate decrease in oil production may increase. This paper examines the impact of the decrease in oil production on major economies using a computable general equilibrium model. Under the simulations in this paper, the oil exporting economies increase their GDPs, the utilities and the terms of trade. The oil importing regions, especially in newly industrialised and developing regions, decrease their GDPs, utilities and the terms of trade. All industry sectors decrease their world output. Among industry sectors, oil industry affects most and the industry sectors which use large amount of oil such as petroleum industry and chemical industry decrease its outputs significantly.
2 citations
01 Jan 1992
TL;DR: Abbasi, Jani Alam as mentioned in this paper, "Productivity analysis and functional specification of Pakistani textile industry" (1992). Retrospective Theses and Dissertations. Paper 9793. 1992 Signature was redacted for privacy.
Abstract: Abbasi, Jani Alam, "Productivity analysis and functional specification of Pakistani textile industry " (1992). Retrospective Theses and Dissertations. Paper 9793. This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. sectioning the original, beginning at the upper left-hand corner and continuing from left to right in equal sections with small overlaps. Each original is also photographed in one exposure and is included in reduced form at the back of the book. Photographs included in the original manuscript have been reproduced xerographically in this copy. Higher quality 6" x 9" black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. 1992 Signature was redacted for privacy.
2 citations
01 Apr 1974-Journal of Research of the National Bureau of Standards, Section B: Mathematical Sciences
TL;DR: In this paper, the following generalization of the We be r plant location probl em: the plant "s output leve l is fixed, and its levels of input from it s supply point s, as we ll as its location, are among th e decis io n variabl es_ Hurter and W ende ll (J. Reg. Sci., 1972) s ho wed th at thi s problem ad mits a kind of separabilit y when the plant's production fun ction li es in a ce rta in class in c l
Abstract: This paper cons ide rs the following generalization of the We be r plant location probl em: the plant 's output leve l is fix ed , and its levels of input from it s supply point s, as we ll as its location , are among th e decis io n variabl es_ Hurter and W ende ll (J. Reg. Sci. , 1972) s ho wed th at thi s problem ad mits a kind of separabilit y when the plant' s production fun ction li es in a ce rta in class in c luding th e CobbDouglas forms. The prese nt paper (a) de te rmines the exte nt of that fun c tion-class, (b) carri es out the exp li cit se paration for the CES generaliza ti on of the Cobb-Douglas fun c ti ons, and (c) di scusses s imple fix ed-point -type ite rative so lution algo rithm s, simila r to th at we ll -kno wn for the o rdinar y We be r proble m, for severa l produ c tion fun ctions (Cobb-Doug las. CES , a nd variou s two-stage techn ologies). Loca l conve rgence of these a lgo rithms is establi shed ; comput a tio na l expe ri e nce will be report ed in a separa te Part II.
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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