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Intertemporal Utility with Heterogeneous Goods and Constant Elasticity of Substitution
Quaas, Martin - 2020
We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of … the goods. We find that a standard (stationary) intertemporal utility function is consistent with these two properties if … elasticities of substitution are identical, or if the instantaneous utility function is Cobb-Douglas. We also characterize the …
Persistent link: https://www.econbiz.de/10012844425
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Nonparametric Identification of Production Function, Total Factor Productivity, and Markup from Revenue Data
Kasahara, Hiroyuki; Sugita, Yoichi - 2021
a representative consumer’s utility function …
Persistent link: https://www.econbiz.de/10013315013
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On the Elasticity of Substitution between Labor and ICT and IP Capital and Traditional Capital
Jerbashian, Vahagn - 2022
I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...
Persistent link: https://www.econbiz.de/10014243755
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Smart-Working : Work Flexibility Without Constraints
Angelici, Marta - 2020
Does removing the constraints of time and place of work increase the utility of workers and firms? We design a …
Persistent link: https://www.econbiz.de/10012839264
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The Quasilinear Quadratic Utility Model : An Overview
Choné, Philippe - 2019
The quasi-linear quadratic utility model is widely used in economics. The knowledge of its exact origin is less …
Persistent link: https://www.econbiz.de/10012866406
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Investment Rules and Time Invariance Under Population Growth
Asheim, Geir - 2020
We propose an adaptation of Hartwick's investment rule to models with population growth and show that following Hartwick's rule is equivalent to a time-invariant real per capita net national product. In the so-called DHSS model of capital accumulation and resource depletion the proposed...
Persistent link: https://www.econbiz.de/10012824585
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Factor Substitution, Income Distribution, and Growth in a Generalized Neoclassical Model
Irmen, Andreas; Klump, Rainer - 2021
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
Persistent link: https://www.econbiz.de/10013316692
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The Neoclassical Growth of China
Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - 2023
This paper studies China’s four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China’s growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...
Persistent link: https://www.econbiz.de/10014347723
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The Pygmalion effect : an agency model with reference dependent preferences
Daido, Kohei; Itoh, Hideshi - 2005
We attempt to formulate and explain two types of self-fulfilling prophecy, called the Pygmalion effect (if a supervisor thinks her subordinates will succeed, they are more likely to succeed) and the Galatea effect (if a person thinks he will succeed, he is more likely to succeed). To this...
Persistent link: https://www.econbiz.de/10010261169
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Generalized quadratic revenue functions
Chambers, Robert G.; Färe, Rolf; Grosskopf, Shawna - 2008
In this paper we focus on specification of revenue functions in their dual price space. We consider two distance functions, both dual to the revenue function: Shephard output distance function and the directional output distance function, both in price space. The former is multiplicative,...
Persistent link: https://www.econbiz.de/10010264442