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 authors propose a direct measure of technological progress that can be quantified with reasonable confidence on the basis of historical data, namely the efficiency with which resources (mainly energy sources) are converted into final services.
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TL;DR: In this article, the authors employed a multi-region computable general equilibrium (CGE) model to evaluate the welfare and environmental impacts from imported refined oil subsidies removal in Ghana.
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TL;DR: This paper showed that the elasticity of substitution between capital and labor is a powerful engine of economic growth in a neoclassical economy with endogenous capital-and labor-augmenting technical change.
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TL;DR: In this article, an overlapping generations model with heterogenous agents and endogenous growth driven by investment in human capital is proposed to study the effect of ELIE on education investment and other aggregate economic variables.
Abstract: The ELIE scheme of Kolm taxes labour capacities instead of labour income in order to circumvent the distortionary effect of taxation on labour supply. Still, Kolm does not study the impact of ELIE on human capital formation and investment. In this paper, we build an overlapping generations (OLG) model with heterogenous agents and endogenous growth driven by investment in human capital. We study the effect of ELIE on education investment and other aggregate economic variables. Calibrating the model to French data, we highlight a tradeoff between growth and redistribution. With a perfect credit market, ELIE is successful in reducing inequalities and poverty, but it is at the expense of lower investment in education and slower growth. In an economy with an imperfect credit market where individuals cannot borrow to educate, the tradeoff between growth and redistribution is not overturned but is less severe. However, it is possible to overturn completely that trade-off simply by changing the base of taxation for the young generation which is equivalent to subsidising education.
29 citations
Cites background from "Capital-labor substitution and econ..."
...In a given society, the ELIE scheme is a self financed distributive system where taxes and subsidies, both denoted ti in Kolm (2005) and in this volume, balance with (4)Arrow et al. (1961) call α the distribution parameter....
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TL;DR: In economics, homothetic functions are production functions whose marginal technical rate of substitution is homogeneous of degree zero as discussed by the authors, i.e., a function is a function of the form f(x)=F(h(x 1, h(x n,x n)), where F is a monotonically increasing function and h is a homogeneous function of any degree d ≥ 0.
29 citations
Cites background from "Capital-labor substitution and econ..."
...In 1961 Arrow, Chenery, Minhas and Solow introduced in [1] another two-input production function given by Q = F · (aK + (1 − a)L) 1 r , (5....
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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