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 2010
TL;DR: In this article, the authors develop a neo-Schumpeterian model, in which growth is driven by the appearance of a new technology and a sequence of quality-improving innovations.
Abstract: We develop a neo-Schumpeterian model, in which growth is driven by the appearance of a new technology and a sequence of quality-improving innovations. This paper is a rst attempt to approaching technological diusion and its eects on social inequalities in a general-equilibrium model, with growth due to skill-biased technological diusion, heterogeneous agents, consumption, leisure{labour decisions and human capital accumulation. Our results are consistent with the data for the skill premium for the US. In addition, we provide an explanation for the increase in skilled professionals over the last thirty years. Finally, our model reproduces the data trends for unskilled wages, between consumption inequality, and consumption and labour volatility.
01 Jan 1990
TL;DR: In this article, the authors present an approach for estimating the production function of the Cobb-Douglas production function, which is based on the generalized form of the Douglas production function.
Abstract: List of Figures vi List of Tables vii Acknowledgments xii 1. OVERVIEW OF STUDY 1 2. GENERAL REVIEW OF THE LITERATURE 10 2.1. Organization of the Chapter 10 2.2. Theoretical Work by Gary S. Becker 10 2.3. Empirical Work by Gronau 14 2.4. Empirical Work by Graham and Green 20 2.5. Criticisms of Past Empirical Approaches 25 3. THEORETICAL FRAMEWORK OF PRODUCTION FUNCTIONS 27 3.1. Chapter Organization 27 3.2. Specification and Estimation of the CES Production Function 28 3.2.1. Theoretical form of the Function 28 3.2.2. Estimating the CES Function Using Assumptions 31 3.2.3. Estimation of the CES Function Directly 32 3.3. Specification and Estimation of the Cobb-Douglas Production 34 Function 3.3.1. Theoretical Form of the Cobb-Douglas Production Function 34 3.3.2. Estimation of the Cobb-Douglas Using Assumptions 35 3.3.3. The Direct Estimation of the Cobb-Douglas Function 37 3.4. Specification and Estimation of Generalized Forms of the Cobb37 Douglas Production Function 3.5. Econometric Implications of Direct Estimation Techniques 39 3.6. Criteria Used to Determine the Best Model 42 4. THE DATA COLLECTION PROCESS 43 4.1. Chapter Overview 43 4.2. Origins of the Sample 44 4.3. The Variables Used for Estimating Production Functions 44 4.3.
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12 Nov 2020TL;DR: The story of the Cobb-Douglas regression from its introduction to its acceptance as a general-purpose research tool is described in this paper, with a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars.
Abstract: The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars.
01 Jan 1972
TL;DR: The Revista de Economía y Estadística (REyE) as discussed by the authors is a publicación semestral del Instituto de Econometría y Finanzas (IEF), Facultad de Ciencias Económicas, Universidad Nacional de Córdoba, Av. Valparaíso s/n, Ciudad Universitaria.
Abstract: La Revista de Economía y Estadística, se edita desde el año 1939. Es una publicación semestral del Instituto de Economía y Finanzas (IEF), Facultad de Ciencias Económicas, Universidad Nacional de Córdoba,Av. Valparaíso s/n, Ciudad Universitaria. X5000HRV, Córdoba,Argentina. Teléfono: 00 54 351 4437300 interno 253. Contacto: rev_eco_estad@eco.unc.edu.ar Dirección web http://revistas.unc.edu.ar/index.php/REyE/index
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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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