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The present study is a comparative study between modern investment tools and old investment tools. The study has been conducted in Rajasthan (India) and therefore the old tools of investment available in Rajasthan have been identified and compared with the modern tools. The primary purpose of...
Persistent link: https://www.econbiz.de/10012895635
The initial entry of FDI in India can be loosely considered from the time of establishment of East India Company of Britain during the colonial era in the 17th century due to the British merchants approaching the Mughal Emperor with the proposal of establishing a factory in Surat city of India....
Persistent link: https://www.econbiz.de/10012824436
The accumulation principle suggests that complementarity between capital and labor forces the labor income share to rise in the presence of capital accumulation. The CES model estimates using data from 20 Japanese industries between 1970 and 2012 explain the same outcome but with substitutable...
Persistent link: https://www.econbiz.de/10012867988
The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...
Persistent link: https://www.econbiz.de/10012870261
This paper shows that because growth models in the tradition of Solow's and Romer's are framed in terms of production functions, they are equally subject to a criticism developed by, among others, Phelps Brown (1957), Simon (1979a), and Samuelson (1979). These authors argued that production...
Persistent link: https://www.econbiz.de/10012871740
We study the behavior of the US labor share over the past 65 years. We find that intellectual property products (IPP) capital entirely accounts for the observed decline of the US labor share, which otherwise is secularly constant for structures and equipment capital. The decline of the labor...
Persistent link: https://www.econbiz.de/10013005456
The value of the elasticity of substitution between labor and capital (σ) is a “crucial” assumption in understanding the secular decline in the labor share of income and long-run growth. This paper develops and implements a new strategy for estimating this crucial parameter by combining a...
Persistent link: https://www.econbiz.de/10013006062
We study the effects of information and communication technologies (ICT) on the distribution of income across factors of production in the United States. Since the 1950s, the income share of ICT saw a seven-fold increase, while it has remained trendless for other types of capital. In parallel,...
Persistent link: https://www.econbiz.de/10013006484
To what extent can technological advances in the production of capital account for the recent, worldwide decline in the labor income share? We pose two challenges to the automation narrative: first, estimates of the elasticity of substitution (EOS) between capital and labor tend to fall below or...
Persistent link: https://www.econbiz.de/10012857763
Electricity is a general purpose technology and the catalyst for the second industrial revolution. Developing countries are currently making huge investments in electrification, with a view to achieving structural change. What does history say about its impact on the structure of employment? We...
Persistent link: https://www.econbiz.de/10012859605