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 role of women in the process of sectoral reallocation from traditional agriculture to services and the resulting effect on productivity and growth is examined. But the results also imply that standard models, which ignore such differences, understate the favorable impact of gender inclusion on growth, and misattribute to technology a part of growth that is actually caused by women's participation.
Abstract: While progress has been made in increasing female labor force participation (FLFP) in the last 20 years, large gaps remain. The latest Fund research shows that improving gender diversity can result in larger economic gains than previously thought. Indeed, gender diversity brings benefits all its own. Women bring new skills to the workplace. This may reflect social norms and their impact on upbringing and social interactions, or underlying differences in risk preference and response to incentives for example. As such, there is an economic benefit from diversity, that is from bringing women into the labor force, over and above the benefit resulting from more (male) workers. The study finds that male and female labor are imperfect substitutes in production, and therefore gender differences in the labor force matter. The results also imply that standard models, which ignore such differences, understate the favorable impact of gender inclusion on growth, and misattribute to technology a part of growth that is actually caused by women’s participation. The study further suggests that narrowing gender gaps benefits both men and women, because of a boost to male wages from higher FLFP. The paper also examines the role of women in the process of sectoral reallocation from traditional agriculture to services and the resulting effect on productivity and growth. Because FLFP is relatively high in services, sectoral reallocation along development paths serves to boost gender parity and productivity.
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TL;DR: In this paper, the authors investigated the spatial dependence of job opportunities among 30 Chinese provincial capital cities (PCCs) from 2002 to 2016, giving special attention to the spatial spillovers of the opening of the high-speed rail (HSR).
Abstract: The provision of sufficient job opportunities has traditionally been a primary objective for both local and central governments. In response to this concern, we investigate spatial dependence of job opportunities among 30 Chinese provincial capital cities (PCCs) from 2002 to 2016, giving special attention to the spatial spillovers of the opening of the high-speed rail (HSR). Using appropriate spatial panel data models, our findings suggest the presence of significant spatial autocorrelation of job opportunities among PCCs. Whilst the HSR has been found to increase job opportunities at the national level, which, however, is not confirmed at the regional level. The spatial spillover effects of the HSR are significant and positive only in the eastern/northeastern region. These findings can help the central government to more fully understand spatial dependence of job opportunities, better plan future HSR networks, and efficiently allocate transportation resources, encouraging cross-regional collaboration to promote regional employment.
31 citations
01 Jan 2014
TL;DR: An overview of the state-of-the-art in international and inter-regional freight demand modelling can be found in this paper, where the authors pay particular attention to the differences between the theoretical and empirical literature as well as pros and cons of the existing methodologies.
Abstract: This chapter provides an overview of the state-of-the-art in international and inter-regional freight demand modelling It pays particular attention to the differences between the theoretical and empirical literature as well as pros and cons of the existing methodologies We further focus on the three main approaches to modelling of the freight transport demand including gravity model, the IO framework and spatial general equilibrium modelling Each of these methodologies is explained in detail and the implementation challenges are discussed In the concluding part of the chapter we present our view on the future research agenda in the field of gravity and spatial general equilibrium modelling
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TL;DR: A comprehensive review of the empirical and theoretical literature on the determinants of the elasticity of substitution between capital and labor can be found in this paper, where the authors focus on the two-input constant Elasticity of Substitution (CES) production function.
Abstract: This paper provides the first comprehensive review of the empirical and theoretical literature on the determinants of the elasticity of substitution between capital and labor. Our focus is on the two‐input constant elasticity of substitution (CES) production function. We start by presenting four concise observations that summarize the empirical literature on the estimation of σ. Motivated by these observations, the main part of this survey then focuses on potential determinants of capital–labor substitution. We first review several approaches to the microfoundation of production functions where the elasticity of substitution (EOS) is treated as a purely technological parameter. Second, we outline the construction of an aggregate elasticity of substitution (AES) in a multi‐sectoral framework and investigate its dependence on underlying intra‐ and inter‐sectoral substitution. Third, we discuss the influence of the institutional framework on the extent of factor substitution. Overall, this survey highlights that the effective elasticity of substitution (EES), which is typically estimated in empirical studies, is generally not an immutable deep parameter but depends on a multitude of technological, non‐technological, and institutional determinants. Based on these insights, the final section identifies a number of potential empirical and theoretical avenues for future research.
30 citations
Cites background from "Capital-labor substitution and econ..."
...Besides applying the Cobb–Douglas production function, Solow also introduced an alternative specification, that 5 years later was developed by Arrow et al. (1961) as the following CES production function: Yt = At [ δK σ−1 σ t + (1 − δ)L σ−1 σ t ] σ σ−1 (3) In this specification, At > 0 is a…...
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...Since the first empirical application of the CES production function by Arrow et al. (1961), the elasticity of substitution between capital and labor has been estimated by a multitude of studies for several countries and at different aggregation levels....
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TL;DR: This article showed that between 1960 and 1980, the elasticity of substitution of energy increased substantially, from around 0.7 to more than 2.4, indicating that energy services which depend primarily on fossil fuel inputs, such as transportation, pose a serious limit to the efficacy of efforts aimed at reducing fossil fuel consumption.
Abstract: Since the Industrial Revolution, the economy of the UK has transformed from that of an industrial manufacturing giant to a service economy and a central hub for the financial sector. Energy and energy services derived from fossil fuels have played a key role as drivers behind this structural change. Using data from 1855 — 2015 on capital, labor, and energy in a CES production function, we show that during this period input factors were mostly gross complements. However, between 1960 and 1980, the elasticity of substitution of energy increased substantially, from around 0.7 to more than 2.4. These high elasticity estimates were not permanent, and this wave of change that characterized the transition has since dissipated. Elasticities have since returned to even lower values around 0.3, indicating that energy services which depend primarily on fossil fuel inputs, such as transportation, pose a serious limit to the efficacy of efforts aimed at reducing fossil fuel consumption.
30 citations
Cites result from "Capital-labor substitution and econ..."
...The 51-year sample size is also comparable to other related empirical studies, such as Arrow et al. (1961), Klump et al....
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...The 51-year sample size is also comparable to other related empirical studies, such as Arrow et al. (1961), Klump et al. (2007), or León-Ledesma et al. (2015)....
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...The 51-year sample size is also comparable to other related empirical studies, such as Arrow et al. (1961), Klump et al. (2007), or León-Ledesma et al....
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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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903 citations