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elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa ….s theorem to show that introducing human capital accumulation in the standard way does not resolve the puzzle. However, balanced … growth is possible if education is endogenous and capital is more complementary with schooling than with raw labor. We …
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of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend … Uzawa's theorem to show that the introduction of human capital accumulation in the standard way does not resolve the puzzle …. However, balanced growth is possible if schooling is endogenous and capital is more complementary with schooling than with raw …
Persistent link: https://www.econbiz.de/10013001767
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of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend … Uzawa's theorem to show that the introduction of human capital accumulation in the standard way does not resolve the puzzle …. However, balanced growth is possible if schooling is endogenous and capital is more complementary with schooling than with raw …
Persistent link: https://www.econbiz.de/10012456811
elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa …'s theorem to show that introducing human capital accumulation in the standard way does not resolve the puzzle. However, balanced … growth is possible if education is endogenous and capital is more complementary with schooling than with raw labor. We …
Persistent link: https://www.econbiz.de/10012996335
immigration-induced skill-mix changes between 1860 and 1930. We find that capital began as a q-complement for skilled and …This paper estimates the elasticity of substitution between capital and skill using variation across U.S. counties in … parametric production function calibrated to our estimates imply the level of capital-skill complementarity after 1890 likely …
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