Description innovation is universally recognized as an important source of economic growth. Patents may be considered as a potential measure of innovation. As such, patents may alter isoquant maps, and measuring their elasticities is both intuitively and empirically appealing. This book...

This paper advances our understanding of the transformative role of innovation in labor share dynamics over recent decades of rapid technological evolution. We introduce a novel methodology to disentangle the direction and substitution effects of technological change, drawing on comprehensive...

This paper performs a nonlinear estimation of a normalized CES production function within a system of equations with a panel of Spanish regions for the period 1964-2013. It obtains an elasticity of substitution below one and identifies different rates of factor-augmenting technical progress. The...

This paper develops a simple framework to estimate the parameters of the production function together with the elasticity of the demand for the output and the impact of demand and cost shifters. The use of this framework helps, in the first place, to treat successfully the difficult problem of...

This paper performs a nonlinear estimation of a normalized CES production function within a system of equations with a panel of Spanish regions for the period 1964-2013. It obtains an elasticity of substitution below one and identifies different rates of factor-augmenting technical progress. The...