Showing 1 - 10 of 524
This paper derives an indirect production function that is, in a special case, of a constant elasticity of substitution … popular production function -- the CES -- that helps us express the important concept of the elasticity of substitution in … shows that several and diverse applications have a common logical structure: the production function often used in growth …
Persistent link: https://www.econbiz.de/10013220428
, nested CES production functions over multiple inputs have been widely used. Although lack of reliable estimates of … reports estimates of substitution elasticities for normalized nested CES aggregate production functions for China with …
Persistent link: https://www.econbiz.de/10013063761
Persistent link: https://www.econbiz.de/10012760232
This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging requiring major fiscal...
Persistent link: https://www.econbiz.de/10012767513
This paper considers two central problems in our statistical frameworks which impair the ability to use wealth to assess economic sustainability or the impacts of economic downturns. Some increases in wealth may reflect increased economic rents—in particular, land and exploitation rents—and...
Persistent link: https://www.econbiz.de/10013019127
of multinational firms' location and production decisions and the welfare implications of multinational production. The … costs of foreign investment are large. Second, I calibrate the model to data on trade and multinational production for … divert a sizable fraction of the production of EU multinationals from the US to Canada …
Persistent link: https://www.econbiz.de/10012992631
We estimate an aggregate production function with constant elasticity of substitution between energy and a capital …
Persistent link: https://www.econbiz.de/10013065268
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/10012773111
A major challenge facing statistical agencies is the problem of adjusting price and quantity indexes for changes in the availability of commodities. This problem arises in the scanner data context as products in a commodity stratum appear and disappear in retail outlets. Hicks suggested a...
Persistent link: https://www.econbiz.de/10012867897
Despite being the standard growth model for several decades, little is actually known analytically about the dynamic properties of the neoclassical Ramsey-Cass-Koopmans growth model. This paper derives analytically the properties of the endogenous saving rate when technology takes the Constant...
Persistent link: https://www.econbiz.de/10013324035