Purpose – Although the importance of the elasticity of substitution between capital and labour (σ) has been recognized in many areas in economics, this parameter has not received enough attention in economic growth. The purpose of this paper is to review the recent development in the...

Abstract The paper argues that a Cobb-Douglas specification may be a reasonable description of the Finnish aggregate production function when a sufficiently long time period (the 20th century) is considered. It is, however, a misleading description of the production technology for the post-WWII...

This article examines the trade policy response of Latin American governments to the rapid growth of Chinese and Indian exports in world markets. To explain more protection in sectors where a large share of imports originates in China and India, the “protection for sale” model is extended to...

Emissions of global warming gases continue to rise as the world burns ever more coal, oil and gas for energy. The article, aims to run an investigation nexus between carbon dioxide (CO2) emission per capita and economic growth of energy consumption in over the period 1990-2100. To evaluate the...

Summary Many recent studies exploring conditional factor demand or factor substitution issues use firm level panel data. A considerable number of establishment panels contains no direct information on the capital input, necessary for production or cost function estimation. Incorrect measurement...

Summary A method is proposed to measure capital services in production. This means that productive assets are weighted according to their user costs. The user costs of the individual asset classes are estimated based on data from the national accounts and other sources. The results show that, in...

Purpose – The purpose of this paper is to analyze whether the protection that some football teams submit to the football players from its region has a positive effect on the quality of the football players from these regions. Particularly, it is analyzed the natural experiment offered by the...

Purpose – The purpose of this paper is to try to formulate a conceptual model for service-oriented export pricing by looking at both demand- and supply-side considerations by taking export price as a function of domestic price of service. Design/methodology/approach – Continuous time...