stability channel of bank competition …

This paper shows that, counter-intuitively, a higher elasticity of substitution in model production function can lead … to reduced economic resilience and larger vulnerability to shocks in production factor prices. This result is due to the … fact that assuming a higher elasticity of substitution requires a recalibration of the production function parameters to …

replicated at a cost (e.g. patent fee or training costs). A basic model of production is developed which involves production … sector and training or replication sector (which produces skills). Using a 2 period production model, the paper finds that in … investment goes to physical capital while a lower share of skills goes into production sector (compared to low-investment period …

the introduction and estimation of two-stage nested translog possibility production frontiers, the otherwise huge …

substitution (CES) production function. By example of the U.S., we highlight the distinctive heterogeneity in empirical estimates … of production functions, especially the CES production function. Second, we outline the construction of an aggregate …