Elasticity of Substitution
A Growth Framework Using the Constant Elasticity of Substitution Model
... the elasticity of substitution between the input variables is always equal to 1 (for a proof see, ...the elasticity of substitution being taken as ...the elasticity of ...
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Heterogeneous Productivity Shocks, Elasticity of Substitution and Aggregate Fluctuations
... an elasticity of substitution different from one provides a source of fluc- tuations in aggregate productivity without the need to assume a common (aggregate) shock to the productivity of all firms, or an ...
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The Elasticity of Substitution and Characteristics of New Investments
... specific elasticity of substitution, two different factor price ratios will gener- ate the same labour productivity, while at a lower elastic- ity of substitution two different factor price ratios ...
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Elasticity of substitution and technical progress: Is there a misspecification problem?
... The fi gure (2) shows that up to the 70s the stationarity of factor share is more or less confirmed. However, starting from the following decade the decline of labor share becomes evident: for the period 1980-2011 the ...
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A Safe Minimum Standard, an Elasticity of Substitution, and the Cleanup of the Ganges in Varanasi
... constant elasticity of substitution between the composite consumption good and water quality in the ...This elasticity measures how easy it is to compensate for decreased water quality in the Ganges ...
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Stability analysis in a monetary model with a varying intertemporal elasticity of substitution
... intertemporal elasticity of substitution (IES) measures the willingness of consumers in what concerns the substitution between future consumption and present ...this elasticity; relevant ...
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Derivation of the Hicks Elasticity of Substitution from the Input Distance Function
... direct elasticity of substitution is traditionally derived from the production ...Shadow Elasticity of Substitution. The new elasticity is more general than the traditional one as it ...
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Empirical Essays on the Elasticity of Substitution, Technical Change, and Economic Growth
... the elasticity of substitution using two different production func- ...Constant Elasticity of Substitution (CES) production function and a Box-Cox production function for Japan (1890-1991), UK ...
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Elasticity of substitution and the slowdown of the Italian productivity
... mated elasticity of substitution is less than 1, a value by now well-grounded in the recent literature (see for instance León-Ledesma 2010; for a critical discussion of the traditional methodology in ...
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The Morishima Gross elasticity of substitution
... two-variable elasticity of substitution was introduced by Hicks (1932) to study the evolution of relative factor shares in a growing ...of substitution (with respect to a price ratio under the ...
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Environmental policy in dynamic models: The impact of the elasticity of substitution if consumers pollute
... Here we focus on aspects that are also not in the center of theorists’ debate. First we generalize previous investigations by analyzing explicitly Cobb-Douglas, CES and Leontief utility functions. Studies published up to ...
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Elasticity of substitution and the slowdown of the Italian productivity
... the Elasticity of Factor Substitution and Bias of Technical Change,” in ...of substitution and techni- cal progress: Is there a misspecification ...
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A Nonparametric Formula Relating the Elasticity of a Factor Demand to the Elasticity of Substitution
... the elasticity of a factor demand is the inverse of the share of output going to the other fac- ...unit elasticity of substitution, the demand elasticity trivially equals the ratio of the ...
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Industrial Agglomeration and Wage Inequality in China
... estimated elasticity of substitution of China is smaller than those of the other countries studied in previous ...of elasticity of substitution for the years after 1997 are smaller than those ...
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Intertemporal substitution and durable goods: long run data
... intertemporal elasticity of substitution while accounting for the intra-temporal substitution between nondurable consumption goods and durable consumption ...
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Elasticity of Factor Substitution and Capital Formation in a Two Sector Economy
... capital-labor substitution in growing ...of elasticity of substitution between capital and labor affects capital ...the elasticity of factor substitution would be a relevant determinant ...
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A comparison of data envelopment analysis and stochastic frontiers as methods for assessing the efficiencies of organisational units
... the nature of the returns to scale of the production frontier, the elasticity of substitution of the inputs and outputs, the level of random noise in the data, etc... As it is not possib[r] ...
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Estimating Intertemporal and Intratemporal Substitutions When Both Income and Substitution Effects are Present: The Role of Durable Goods
... constant-elasticity-of- substitution (CES) felicity ...the elasticity of intratemporal substitution and the ratio of within- period expenditure ...the elasticity of intertemporal ...
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The volatility of consumption and output with increasing industrialization
... the elasticity of substitution between market goods and home produced ...the elasticity of substitution increases, the volatility of market consumption first increases and then ...
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The World Financial Crisis in Brazil: Industry and Regional Economic Impacts
... The composition of consumption by product between domestic and imported is controlled by means of a constant elasticity of substitution (CES) function. The sectoral[r] ...
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