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Tastes and technology are the ultimate givens of standard economics. Their interaction is mediated by the marginal principle. This approach is unsuitable to explain the nature and magnitude of overall profits and their distribution within the business sector. The present paper therefore takes a...
Persistent link: https://www.econbiz.de/10009325567
substitution models of Peterka and Marchetti-Nakiæenoviæ are presented. In the second section, we describe an evolutionary model of …
Persistent link: https://www.econbiz.de/10008536054
, introduction of minimum prices and substitution of low-quality drinks with high-quality food and drinks were to be employed, and if …
Persistent link: https://www.econbiz.de/10008552796
As is the case with capital-energy substitution, interfuel substitutability has been of longstanding interest to the …. This paper fills this gap by analyzing a broad sample of studies of interfuel substitution in the industrial sector … for the shadow elasticity of substitution between coal, oil, gas, and electricity for forty-five primary studies show that …
Persistent link: https://www.econbiz.de/10005055490
The Hicks or direct elasticity of substitution is traditionally derived from the production function. This paper … Shadow Elasticity of Substitution. The new elasticity is more general than the traditional one as it can handle situations of … Complementarity in the same way that the Shadow Elasticity of Substitution is related to the Morishima and Allen-Uzawa Elasticities of …
Persistent link: https://www.econbiz.de/10005616772
) confirm the existence of the substitution effect between these loans. Restrictive monetary policy leads to a decrease in …
Persistent link: https://www.econbiz.de/10005619336
substitution of capital for labour in almost all states. In the pre-globalization period the industries experienced increasing …
Persistent link: https://www.econbiz.de/10005619394
This paper develops a classification scheme of the many different definitions of elasticities of substitution and … complementarity in the production case based on duality, gross and net substitution, elasticity type, and four different basic … concepts of substitution and complementarity is developed. The classic Berndt-Wood dataset is used to show how the various …
Persistent link: https://www.econbiz.de/10005620043
A unified growth model is presented in which productivity growth is driven by learning-by-doing. We show that the growth rate of productivity is an increasing function of the share of capital. It is assumed that the industrial sector has a higher capital share than the agricultural sector and...
Persistent link: https://www.econbiz.de/10011107679
This study examines the growth of global mobile telephony and the economic factors that affect this growth. Mobile telephony has exhibited substantial growth in the decade to 2000 and this growth is expected to continue with the introduction of technically advanced mobile cellular networks. A...
Persistent link: https://www.econbiz.de/10005623519