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The ICT-based techno-economic paradigm shift was sharpened by income inequalities in all over the world. The economic performance of USA and Europe were seemed to more different thanks to global economic events. The main purpose of this study is to estimate various macroeconomic variables such...
Persistent link: https://www.econbiz.de/10013046295
-Douglas production function is rejected. …
Persistent link: https://www.econbiz.de/10011541283
-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for … agriculture, manufacturing, and services on postwar US data and compare them with Cobb-Douglas production functions with different … force behind the trends in observed relative prices and sectoral labor. As a result, sectoral Cobb-Douglas production …
Persistent link: https://www.econbiz.de/10010494521
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Persistent link: https://www.econbiz.de/10009734274
-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for … agriculture, manufacturing, and services on postwar US data and compare them with Cobb-Douglas production functions with different … force behind the trends in observed relative prices and sectoral labor. As a result, sectoral Cobb-Douglas production …
Persistent link: https://www.econbiz.de/10009670719
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Productivity and the factors of production are the two sources of output growth in an economy. Productivity growth in a …
Persistent link: https://www.econbiz.de/10014097184