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This paper addresses the relationship between technical change and the elasticity of substitution between factors of production. It is shown how the elasticity within a CES production setting can change due to technical change. Technical change is interpreted in the spirit of horizontal...
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In this article the elasticity of substitution of CES production function is estimated for selected production sectors of Slovak economy. For purpose of estimation indirect form of CES function was utilized. Results of our analysis shown that for certain sectors other types of production...
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