whether capital and labor are gross complements or substitutes. Establishing the magnitude of σ is vital, not only for … there has been capital deepening. This paper presents evidence that refutes these claims. It shows that despite a rise in … measured capital-labor ratios, labor-augmenting technical change in the United States has been sufficiently rapid that …

whether capital and labor are gross complements or substitutes. Establishing the magnitude of `sigma` is vital, not only for … that there has been capital deepening. This paper presents evidence that refutes these claims. It shows that despite a rise … in measured capital-labor ratios, labor-augmenting technical change in the US has been sufficiently rapid that effective …

unitary elasticity between equipment capital and non-routine tasks, equipment capital and routine tasks are highly … document that the fall in relative price of equipment capital alone can explain 72 percent of the observed decline in the U … sensitivities of cost of production to the price of equipment capital …

Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary … 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 …

The evidence for the United States points to balanced growth despite falling investment-good prices and an elasticity … 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 …

The evidence for the United States points to balanced growth despite falling investment-good prices and an elasticity … 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 …