Sala, Hector; Trivín, Pedro - 2017
The elasticity of substitution between capital and labor (σ) is usually considered a "deep parameter". This paper shows … intertwined linkage among globalization, technology and the elasticity of substitution should be taken into account in any policy … have different consequences for the OECD and the non-OECD economies. In the OECD, we find that the elasticity of …