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: This work introduces a fully stochastic gradient based approach to Bayesian optimal experimental design (BOED) that utilizes variational lower bounds on the expected information gain of an experiment that can be simultaneously optimized with respect to both the variational and design parameters.
Abstract: We introduce a fully stochastic gradient based approach to Bayesian optimal experimental design (BOED). Our approach utilizes variational lower bounds on the expected information gain (EIG) of an experiment that can be simultaneously optimized with respect to both the variational and design parameters. This allows the design process to be carried out through a single unified stochastic gradient ascent procedure, in contrast to existing approaches that typically construct a pointwise EIG estimator, before passing this estimator to a separate optimizer. We provide a number of different variational objectives including the novel adaptive contrastive estimation (ACE) bound. Finally, we show that our gradient-based approaches are able to provide effective design optimization in substantially higher dimensional settings than existing approaches.
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Cites methods from "Capital-labor substitution and econ..."
...The model assumes that their response (on a slider) is based on the difference in utility of the baskets, and the constant elasticity of substitution (CES) model (Arrow et al., 1961) governed by latent variables (ρ,α, u) is then used for this utility....
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TL;DR: It is found that the opportunity of using e-services, particularly e-government services, is less accessible to citizens with low overall digital skills and, as is technically normal, to those with low access to internet access.
Abstract: The recent evolution of smart cities research has initiated a holistic dialogue for the integration of past initiatives promoting e-government at European Union Level. At the same moment Future Smart Cities research, is justified as a multi-disciplinary and inter-disciplinary research domain. Within this context this research work provides insights for the integration of Economics, E-government, Information Systems, and Social Sciences. The study addresses the e-government process as one of the most important application of smart cities in our current societies. More specifically, we have examined the existence of $\beta $ -convergence between EU member states in terms of e-government services, confirming the hypothesis that low performance countries record higher growth rate than developed countries. In order to move closer to the factors with high impact on e-government development, we have analyzed other variables for testing the differences between countries, in terms of education, digital skills and access to internet for controlling the hypothesis that countries initially have different development conditions and they will not probably converge to the same steady state. We found that the opportunity of using e-services, particularly e-government services, is less accessible to citizens with low overall digital skills and, as is technically normal, to those with low access to internet access. In this context, at EU level it is needed to rethink and design the e-government services in order to be adapted not only to needs of the citizens, but also to their digital skills. The main contribution of this research is two-fold: From one side provides an integrated study with emphasis on the impact of social sciences and economics research to Future Smart Cities Research and from the other side it brings forward several soft factors for the adoption of Smart Cities services in the context of government transformation and provision of ubiquitous e-services to citizens.
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Cites background from "Capital-labor substitution and econ..."
...Finally, considering that the aspects that create disparities at EU level: technologies (internet access and the frequency of internet use) and the human factor (digital skills endowment) are important factors in the equation of economic growth [87], we question whether the general level of economic growth can provide general information about the improving performance also in e-government....
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TL;DR: In this article, a Two Dimensional Minimum Poverty Gap (2DGAP) measure is introduced to quantitatively measure the shortest path to escape multidimensional poverty. But the 2DGap is not suitable for the case of time and income.
Abstract: This paper focuses on interdependent multidimensional poverty of time and income with its incidence and intensity. We introduce a Two Dimensional Minimum Poverty Gap (2DGAP) measure, which quantifies the shortest path to escape multidimensional poverty. The 2DGAP disentangles single poverty attribute gaps while assuring their interdependence; an important issue for targeted antipoverty policies. Besides income, we include genuine personal leisure time with social participation reflecting Sen’s capability approach. The interdependence of multidimensional poverty is estimated by a CES-type well-being function with individual German data. The empirical results of Germany’s “working poor” emphasize the importance of time with social participation aspects in the multidimensional poverty discussion.
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TL;DR: In this article, the major considerations involved in the empirical estimation of capital-labour-energy Constant Elasticity of Substitution (CES) production functions and their estimated parameters are discussed.
Abstract: Capital–labour–energy Constant Elasticity of Substitution (CES) production functions and their estimated parameters now form a key part of energy–economy models which inform energy and emissions policy. However, the collation and guidance as to the specification and estimation choices involved with such energy-extended CES functions is disparate. This risks poorly specified and estimated CES functions, with knock-on implications for downstream energy–economic models and climate policy. In response, as a first step, this paper assembles in one place the major considerations involved in the empirical estimation of these CES functions. Discussions of the choices and their implications lead to recommendations for CES empiricists. The extensive bibliography allows those interested to dig deeper into any aspect of the CES parameter estimation process.
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Cites methods from "Capital-labor substitution and econ..."
...This significant constraint is overcome by the CES function, introduced in 1956 by Solow [11], and subsequently generalized in the “ACMS” paper by Arrow, Chenery, Minhas and Solow [12] in 1961....
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...[12]: Leontief (σ = 0), C-D (σ = 1) and Linear (σ = ∞) functions....
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...[12]: Leontief (σ = 0), C-D (σ = 1) and Line r (σ = ∞) functions....
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01 Dec 1967
TL;DR: It is shown that the structure of production may be expressed interchangeably by postulating the existence of a production functionΦ (X) satisfying certain properties or by a family of production possibility setsL (U).
Abstract: The mathematical notion of the production function is developed to relate input and output rates for unconstrained technological possibilities. It is shown that the structure of production may be expressed interchangeably, either by postulating the existence of a production functionΦ (X) satisfying certain properties or by a family of production possibility setsL (U), whenU is output rate,X is a vector of input rates,L (U) is the set of input rate vectors yielding at leastU, and\(\Phi (X) = \mathop {Max U}\limits_{L(U) \supset X} \). A class of production functions called homothetic is defined. This class is particularly useful in economic studies.
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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