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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15 Jun 2014
TL;DR: In this article, the authors proposed a methodology of estimating energy elasticities, as well as other parameters of nested-CES production function, using forward-looking reference energy system technological models.
Abstract: The aim of the paper is a development of methodology of estimation energy elasticities, as well as other parameters of nested-CES production function, using forward-looking reference energy system technological models. The methodology is a way to synchronize performance of co-called “BottomUp” technological and “Top-Down” economic models without merging or physical linking the types of models, but using one model to calibrate parameters for another, and specify exogenous technological shifts for experiments. Introduction Elasticities of substitution are the key parameters in CGE modeling. However an estimation and validation of the parameters are not straightforward. One of the ways is to use a historical data. Technological shifts between types of fuels and capital and fuels, observed in the past, potentially could be used to calibrate or econometrically estimate the elasticity coefficients. However, historical trends do not describe all the possible investment options available now. Moreover such estimates will be based on investment decisions made in particular economic condition, policies, and available technological/investment options in the time of decision. Application of the parameters for evaluation of future policy options involves undesirable (and unavoidable) assumption that future technological options are equal or similar to those in the past. A variety of new technological options will be disregarded from the analysis. A more natural way to model technological options is so-called Bottom-Up technological models. Such reference energy systems have an extensive representation of energy sector, and take into account currently available and expected technological options, but consider only part of an economy and lack connectivity with other sectors, f.i. do not provide a demand respond. Therefore their application is usually limited to the energy sector. There are several attempts to connect the top-down (CGE/AGE) and bottom-up models known as “soft” or “hard link”. (see f.i. Böhringer and Rutherford 2006, 2008). However both methodologies require significant reduction of the models’ scale or some compromise in connectivity between the models. The methodology proposed in the paper might be considered as another way of hybrid modeling where bottom-up model is used to calibrate parameters for a top-down model. It is expected, the energy nest of a CGE model should provide results similar to the bottom-up model. 1 Environmental Defense Fund, USA 2 Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia
TL;DR: In this paper, the authors used an aggregate modeling approach to assess the impact of taxes in refined-petroleum products on the Philippine's economy and found that a complete elimination of refined petroleum product taxes would result in an increase in output by all producing sectors of about 3·7% or about 2·65 billion (2·65 × 1011) Philippine pesos.
31 Mar 2019
TL;DR: In this article, the authors presented a function for the share of factors of output, which is in complete agreement with primary production theories in microeconomics, and also payment to each factor equals their marginal products, and created a new production function which is called the efficient production function.
Abstract: In this paper, we present a function for the share of factors of output, which is in complete agreement with primary production theories in microeconomics. We follow some assumptions for production function, and also payment to each factor equals their marginal products, and we create a new production function which is called the efficient production function. We then try not only to remove the significant defects in Cobb-Douglas production function but also by accept the presented theory. We conclude that the need for most previous approaches have caused problems and even the developed functions have not been able to solve the problem. The presented model in complete agreement is also supported by the empirical findings for the United States (U.S.) economy.
Cites background from "Capital-labor substitution and econ..."
...Theoretically, this product has been vigorously challenged by a new production function introduced by Arrow et al. (1961), this function is called the CES production function and is derived based on a good fit of a linear, logarithmic function of the following type to observations on value added…...
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...Arrow et al. (1961) estimated that the elasticity of substitution is 0.569 for U.S. non-farm sectors, Kendric and Sato (1963) estimate 0.58 and Kravis (1959) predicted 0.64 for the entire U.S. economy....
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01 Jan 2020
TL;DR: In this article, a study case over a graphic arts Mexican manufacturer of equipment is presented, where the authors show that it is possible to use the proposed productivity index in this work, doing the validation with de typical Sumanth mathematical expression, finding no significant difference between both equations.
Abstract: It is limited the information provided by the productivity index, which only measures the relationship between production and the resources used to obtain it; in addition, this index is a relative measure and in the past tense. How can a MSME improve productivity with this number? This work shows the decomposition of the productivity index in its mains factors, Labor and Capital, through applying Cobb – Douglas Production Function, into a study case over a graphic arts Mexican manufacturer of equipment. The results show that it is possible to use the proposed productivity index in this work, doing the validation with de typical Sumanth mathematical expression, finding no significant difference between both equations. Keywords—Productivity, MSME, Labor, Capital,
TL;DR: In this paper, the authors examined the impact of reducing the federal excise tax on gasoline and diesel fuel on the United States economy in general and the agricultural sectors in particular, and showed that reducing the tax on diesel fuel has a significant impact on the agricultural sector.
Abstract: The analysis in this paper examines the impact of reducing the federal excise tax on gasoline and diesel fuel on the United States economy in general and the agricultural sectors in particular. The...
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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