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 1983
TL;DR: In this article, a general optimization algorithm using first-order to rth order derivatives to find the optimum of an r- continuously differentiable function of many variables is presented, which collapses to the Newton-Raphson algorithm when only first and second-order derivatives are used.
Abstract: This paper presents a general optimization algorithm using first-order to rth order derivatives to find the optimum of an r- continuously differentiable function of many variables. This algorithm collapses to the Newton-Raphson algorithm when only first- and second-order derivatives are used. The computation of the required higher-order derivatives are readily available through the table algorithm. The generalized CES production function is used as an example.
01 Jan 1999
TL;DR: In this paper, the authors derive a positive relationship between competition and growth in formal growth models, but they do not consider the effects of monopoly power and other restraints of competition on economic growth.
Abstract: It is widely believed that a higher degree of competition on goods and factor markets should foster aggregate economic growth. However, there have been very few attempts to derive a positive relationship between competition and growth in formal growth models. The old neoclassical theory of growth as developed by Solow (1956) assumes perfect competition on all markets and thus seems to eliminate all possible growth effects of monopoly power and other restraints of competition. On the other hand, the ‘new’ growth theory, following the pioneering works by Romer (1986), Lucas (1988) and Grossman and Helpman (1991), has made use to a large extent of models which include some form of monopolistic competition. But this framework rather seems to justify restraints of competition in order to promote innovative activities.
TL;DR: In this paper, the effects of international trade and foreign direct investment (FDI) liberalization policies on the economy of the Dominican Republic during the 1990s were examined using a production function methodology.
Abstract: This research, using a production function methodology, examines the effects of international trade and foreign direct investment (FDI) liberalization policies on the economy of the Dominican Republic during the 1990s. Most of the FDI was in the free trade zone (FTZ) sector. The results have important ramifications on current policies to promote sustainable economic growth. The econometric results indicate evidence of unbalanced growth characterized by regional and technological dualism: (a) an efficient FTZ sector, highly dependent on FDI, and operating under increasing returns to scale, and (b) a relatively inefficient primary/secondary sector operating under decreasing returns to scale. These growth strategies fail to establish economic linkages between different economic sectors; also they focus on the development of the FTZ sector whose contribution to GDP averages only about 3 %. Policies to promote sustainable growth necessitate strategies to develop and diversify the primary/service sectors. Importantly, recently revised agreements on international trade will lessen the competitiveness of the FTZ sector.
01 Jan 2023
TL;DR: The EKC hypothesis is facing questions in the face of the non-attainment of the turnaround points within the specified income range as discussed by the authors , and therefore, the quadratic specification of the EKC equation might address these issues effectively and thereby, can initiate a new discourse.
Abstract: The prevailing growth trajectory across the nations has proven the invalidity of the EKC hypothesis. It is facing questions in the face of the non-attainment of the turnaround points within the specified income range. Nevertheless, even though the discourse of the EKC hypothesis might face challenges in academia, its mathematical specification might open new avenues of research. The rising complexities in energy and climate policies have revealed the possibilities of several socio-ecological trade-offs that have been remaining undiscovered. The quadratic specification of the EKC equation might address these issues effectively, and thereby, can initiate a new discourse.
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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