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The price of capital, factor substitutability, and corporate profits
Hergovich, Philipp; Merz, Monika - 2018
determinant such as the observed decline in the relative price of new capital goods, or the change in production technology … market augmented by a CES production function that allows firms to substitute between capital and labor at varying degrees … production. We find that the declining relative price of capital and the increase in factor substitutability each causes the …
Persistent link: https://www.econbiz.de/10011906166
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Meta-analysis of empirical evidence on the labour market impacts of immigration
Longhi, Simonetta (contributor); Nijkamp, Peter (contributor) - 2008
The increasing proportion of immigrants in the population of many countries has raised concerns about the 'absorption capacity' of the labour market, and fuelled extensive empirical research in countries that attract migrants. In previous papers we synthesized the conclusions of this empirical...
Persistent link: https://www.econbiz.de/10003684462
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Pollution abatement and control expenditure in Romania : a multilevel analysis
Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - 2010
The transition process in Central and Eastern Europe was associated with growing environmental awareness. This paper analyses the determinants of Pollution Abatement and Control Expenditure (PACE) at plant level in the case of Romania using survey data and a Multilevel Regression Model (MRM)....
Persistent link: https://www.econbiz.de/10003986298
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Capital-labor substitution, structural change and growth
Alvarez-Cuadrado, Francisco; Long, Ngo Van; Poschke, Markus - 2015
production in the more flexible sector more intensive in the input that becomes more abundant. As a result, growth rates of …
Persistent link: https://www.econbiz.de/10010501861
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Rejecting capital-skill complementarity at all costs
Frondel, Manuel; Schmidt, Christoph M. - 2001
Any serious empirical study of factor substitutability has to allow the data to display complementarity as well as substitutability. The standard approach reflecting this idea is a translog specification - this is also the approach used by numerous studies analyzing the relative capital-skill...
Persistent link: https://www.econbiz.de/10011402402
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Uneven technical progress and unemployment
Gersbach, Hans; Schniewind, Achim - 2002
unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production … functions. For every type of technical progress there are also elasticities of substitution in production and utility functions …
Persistent link: https://www.econbiz.de/10011411100
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The firm as a pool of factor complementarities
Lindbeck, Assar (contributor); Snower, Dennis J. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001799659
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The effects of globalization and technology on the elasticity of substitution
Sala, Hector; Trivín, Pedro - 2017
The elasticity of substitution between capital and labor (σ) is usually considered a "deep parameter". This paper shows, in contrast, that σ is affected by both globalization and technology, and that different intensities in these drivers have different consequences for the OECD and the...
Persistent link: https://www.econbiz.de/10011704348
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Labor income share dynamics with variable elasticity of substitution
Paul, Saumik - 2019
The accumulation principle suggests that complementarity between capital and labor forces the labor income share to rise in the presence of capital accumulation. The CES model estimates using data from 20 Japanese industries between 1970 and 2012 explain the same outcome but with substitutable...
Persistent link: https://www.econbiz.de/10012022772
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A decline in labor's share with capital accumulation and complementary factor inputs : an application of the Morishima elasticity of substitution
Paul, Saumik - 2019
The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...
Persistent link: https://www.econbiz.de/10011993096