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 paper, the transfer of American business school technology to the National University of Lesotho has been discussed, and appropriate recommendations are offered to further improve the effectiveness of the educational package and its effect on the economic development of the country.
Abstract: This study deals with the transfer of American business school technology to the National University of Lesotho. The study considers the nature of the transfer process, the local innovations to the education program, and the role of the government of Lesotho in the transfer. Appropriate recommendations are offered to further improve the effectiveness of the educational package and its effect on the economic development of Lesotho.
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Posted Content•
01 Jan 2003
TL;DR: In this paper, a four-input production theory is applied to a representative chemical reaction occurring in a model plant, which captures the general features of large-scale chemical production processes.
Abstract: A four-input (capital, labor, material and energy) production theory is applied to a representative chemical reaction occurring in a model plant, which captures the general features of large-scale chemical production processes. Engineering model and bridge equations (links between engineering and economic variables) are numerically solved to obtain feasible input combinations for a given production rate. Labor and material flows are fixed for a constant production rate, such that the capital-energy isoquant/isocost map gives the technically efficient region and (cost minimizing) optimum output expansion path for planned plants (ex ante case). Model plant total capital investment versus plant capacity is in excellent agreement with capital investment costs for actual polymerization plants. Finally, short- and long-run total, average and marginal cost curves exhibit theoretically correct behavior, and an example of static equilibrium analysis of the firm in the chemical product market is presented using short-run cost and postulated product demand and marginal revenue curves.
2 citations
01 Jan 2007
TL;DR: In this paper, the authors show how different types of regression models can be solved with GAMS, and they assume that E( ′ ) = σIn, i.e. the different i's are independent.
Abstract: This document show how different type of regression models can be solved with GAMS. 1. Linear Least Squares 1.1. OLS is an optimization problem. Ordinary Least Squares (OLS) is a technique to estimate parameters in a linear statistical model: (1) y = Xβ + where y is the dependent (endogenous) variable (stored as an (n× 1) vector), and X is an (n× k) matrix of k independent (exogenous) variables. is an error term. We assume that E( ′ ) = σIn, i.e. the different i’s are independent. We can estimate β by the optimization model:
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TL;DR: In this article, the interactions between individual managerial variables and the level of quality performance were studied in hospitals in New York State, and it was shown how quality performance, measured as the risk-adjusted..
Abstract: Little research has been done in hospitals on the interactions between individual managerial variables and the level of quality performance. Using data from hospitals in New York State, it is shown how quality performance, measured as the risk-adjusted..
2 citations
Cites background from "Capital-labor substitution and econ..."
...Moreover, economics theory argues that capital may be substituted for labor (Arrow et al. 1961), which suggests that investments in capital, such as new technology, equipment, and facilities, may be used by a hospital to compensate for a shortage of qualified workers....
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...…staffing level and work force compensation level. www.asq.org 21 Capital investment in combination with work force staffing level The economics literature considers a production function that includes two or more factors of production, usually capital and labor (for example, Arrow et al. 1961)....
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...Moreover, an economics perspective would suggest that capital and labor may be substituted for one another in the production of a good or service (for example, Arrow et al. 1961)....
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01 Jan 2014
TL;DR: In this article, the authors studied the industrial structure based on the GDP in recent years, and three industrial statistical data analysis according to the relationship between the three industries and time, and found that structural evolution of industrial economic system is an inevitable trend.
Abstract: With economic development and the change of industrial structure, structural evolution of industrial economic system is an inevitable trend. This chapter studies the industrial structure based on the GDP in recent years, and three industrial statistical data analysis according to the relationship between the three industries and time.
2 citations
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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