balanced panel of 73 developed and developing countries to examine the capital-skill complementarity hypothesis. The exercise … shows some support for capital-skill complementarity, but the strength of the evidence depends upon the definition of …

The elasticity of substitution between capital and labor (σ) is usually considered a "deep parameter". This paper shows … substitution between capital and labor is below unity; that it increases along with the degree of globalization; but it decreases … enhances the substitutability between capital and labor. We also find evidence of a non-significant impact of the capital …

The capital-to-labor ratio has steadily risen in the U.S. and elsewhere during the post-WWII period. Since the 1970s … 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 …

contrasted patterns in terms of capital deepening …

transfer of skill or human capital. If this is the case, then the older workers would at least to some extent be in direct …

This paper analyzes the joint effect of EPL and financial market imperfections on investment, capital-labour … the capital-labour ratio is less pronounced in firms with higher internal resources, suggesting that financial constraints … substitution, labour productivity and job reallocation in a cross-country framework. In the spirit of Rajan and Zingales (1998) and …

economies, and shows that a model where the degree of capital-labor substitutability differs across sectors is consistent with …

capital-labor substitutability – a new mechanism – are a driving force for structural change. When the flexibility to combine … capital and labor differs across sectors, a factor rebalancing effect is operative. It tends to make production in the more … flexible sector more intensive in the input that becomes more abundant. As a result, growth rates of sectoral capital …

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 … as a non-linear function of the Weibull distribution of capital-labor ratio. Empirical findings support the choice of a …