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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...
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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...
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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...
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