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Measuring the Gains from Trade under Monopolistic Competition

Feenstra, Robert C. - 2009

Three sources of gains from trade under monopolistic competition are: (i) new import varieties available to consumers; (ii) enhanced efficiency as more productive firms begin exporting and less productive firms exit; (iii) reduced markups charged by firms due to import competition. The first...

Persistent link: https://www.econbiz.de/10012463056

Capital-Labor-Energy Substitution in Nested CES Production Functions for China

Shen, Keting - 2013

In the CGE based policy modeling literature, especially recent literature on policy modeling for global climate change, nested CES production functions over multiple inputs have been widely used. Although lack of reliable estimates of substitution elasticities for nested structures has been...

Persistent link: https://www.econbiz.de/10012459557

The Microeconomic Foundations of Aggregate Production Functions

Baqaee, David - 2018

Aggregate production functions are reduced-form relationships that emerge endogenously from input-output interactions between heterogeneous producers and factors in general equilibrium. We provide a general methodology for analyzing such aggregate production functions by deriving their first-...

Persistent link: https://www.econbiz.de/10012480944

Energy-Saving Technical Change

Hassler, John - 2012

We estimate an aggregate production function with constant elasticity of substitution between energy and a capital/labor composite using U.S. data. The implied measure of energy-saving technical change appears to respond strongly to the oil-price shocks in the 1970s and has a negative medium-run...

Persistent link: https://www.econbiz.de/10012460204

Optimal Choice of Product Scope for Multiproduct Firms under Monopolistic Competition

Feenstra, Robert - 2007

In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...

Persistent link: https://www.econbiz.de/10012464943

A CES Indirect Production Function

Jovanovic, Boyan - 1995

form. This is not a contribution to the theory of aggregation generally. Instead it is a microfoundation for a specific but … theory, the utility function when there is household production, human capital theory, and the concept of the aggregate …

Persistent link: https://www.econbiz.de/10012473588

Panel Data Estimates Of The Production Function And Product And Labor Market Imperfections

Dobbelaere, Sabien - 2008

Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...

Persistent link: https://www.econbiz.de/10012464671

Paasche vs. Laspeyres : The Elasticity of Substitution and Bias in Measures of TFP Growth

Young, Alwyn - 1998

factor productivity growth in countries where the capital-labour ratio has risen rapidly, e.g. the East Asian NICS, will … understate true productivity growth if the elasticity of substitution is less than one and there is labour augmenting technical … change. This note shows that this argument increases a Paasche measure of productivity, at the expense of lowering a …

Persistent link: https://www.econbiz.de/10012472148

Transatlantic Technologies : The Role of ICT in the Evolution of U.S. and European Productivity Growth

Gordon, Robert J. - 2020

We examine the role of the ICT revolution in driving productivity growth behavior for the United States and an …. Using industry-level data from EU KLEMS, we find that most of the 1995-2005 U.S. productivity growth revival was driven by … rather than providing a new permanent era of faster productivity growth. This joint transatlantic post-2005 slowdown is …

Persistent link: https://www.econbiz.de/10012481620

International Differences in the Adoption and Impact of New Information Technologies and New HR Practices : The Valve-Making Industry in the U.S. and U.K

Bartel, Ann - 2007

This paper compares the impact of new IT-enhanced technology on the efficiency of production in the U.S. and the U.K. for one manufacturing industry, valve manufacturing. There is a long-standing question of whether technological change and organizational changes have the same rates of adoption...

Persistent link: https://www.econbiz.de/10012464988

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