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The Morishima elasticity of substitution (MES) is estimated to address factor substitutability in Florida agriculture during 1960-1999. By adopting a profit maximization model of induced innovation theory, the MES's between hired and self-employed labor and the MES's between labor and capital...
Persistent link: https://www.econbiz.de/10004991750
A cost function approach of induced innovation is used to measure the biases in U.S. agricultural technology between 1948-1994. The results show significant labor-saving, capital-using technical change. Focusing on the impact of migration policy on labor-saving technology, a simulaton of...
Persistent link: https://www.econbiz.de/10005525858