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Tuesday, May 12, 2020 | History

2 edition of Capital, energy and labor substitution found in the catalog.

Capital, energy and labor substitution

Patrick Artus

Capital, energy and labor substitution

the supply block in OECD medium-term models

by Patrick Artus

  • 362 Want to read
  • 37 Currently reading

Published by Organisation for Economic Co-operation and Development in Paris .
Written in English

    Subjects:
  • Production functions (Economic theory)

  • Edition Notes

    Statementby Partick Artus.
    SeriesWorking papers / OECD Economics and Statistics Department -- no.2, Working papers (Organisation for Economic Co-operation and Development. Dept. of Economics and Statistics) -- no. 2.
    ContributionsOrganisation for Economic Co-operation and Development. Dept. of Economics and Statistics
    The Physical Object
    Pagination62 p. ;
    Number of Pages62
    ID Numbers
    Open LibraryOL22091807M

    Despite substantial interest in the role of energy in the economy, the degree of substitutability between energy and other production inputs and the way energy should be included in the production function remain unresolved issues. This study. Get this from a library! Capital-labor-energy substitution in nested CES production functions for China. [Keting Shen; John Whalley; National Bureau of Economic Research.] -- In the CGE based policy modeling literature, especially recent literature on policy modeling for global climate change, nested CES production functions over multiple inputs have been widely used.

    The previously mentioned primary factors are land, labor, and capital goods. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labour, and capital. The primary factors facilitate production but neither becomes part . THE COBB-DOUGLAS FUNCTION AS A FLEXIBLE FUNCTION Analyzing the substitution between capital, labor and energy SCIENCES PO OFCE WORKING PAPER n° 12, /04/

    Modeling and Measuring Natural Resource Substitution [Ernst R. Berndt, Barry C. Field] on abcdfestivalgoa.com *FREE* shipping on qualifying offers. A strategy of natural resource substitution is critical if the nation is to adapt successfully to the emerging reality of resource shortages. The essays collected for the first time in this book provide evidence that economists are rising to the challenge. 2 Arrow, Chenery, Minhas and Solow () find strong evidence that the capital-labor substitution elasticity is between zero and unity. Also, Harrison, Jones, Kimbell and Wigle () undertook econometric estimation of capital-labor substitution elasticities and report 4 out of 6 sectors to be between zero and unity.


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Capital, energy and labor substitution by Patrick Artus Download PDF EPUB FB2

Capital, Energy, and Labor Cross-Substitution Elasticities in a Developing Country: The Case of Greek ManufacturingCited by: 8. For the widely used (K, L)E structure, we find that the substitution elasticity between capital and labor for China is below unity.

When human capital adjusted labor is used as input instead of unadjusted raw labor, estimates of substitution elasticity between capital and labor become lower. elasticity of substitution between energy and value-added (the capital-labor composite) is the key parameter in the MIT EPPA model and significantly affects.

The main findings of this paper were that capital and labor and energy and labor were substitutes, while capital and energy were abcdfestivalgoa.com: Vasileios Georgakopoulos.

Capital stock-labor-energy substitution and production efficiency study for China. This study estimates the elasticities of substitution for China from to by the two-level constant elasticity of substitution (CES) production function with three factor inputs: capital stock, labor and energy.

Title: Unemployment, Capital-Labor Substitution, and Economic Growth - WP/99/43 Created Date: 4/13/ PM. Capital-Labor Substitution, Equilibrium Indeterminacy, and the Cyclical Behavior of Labor Income Jang-Ting Guo University of California, Riversidey Kevin J.

Lansing Federal Reserve Bank of San Franciscoz April 3, Abstract This paper examines the quantitative relationship between the elasticity of capital-labor substitution and the.

"Energy-Capital-Labor Substitution and the Economic Effects of CO2 Abatement: Evidence for Germany," Journal of Policy Modeling, Elsevier, vol.

22(6), pagesNovember. Burniaux, Jean-March & Truong, Truong P., The aggregate elasticity of substitution between capital and labor is a weighted average of production elasticities of substitution in the two sectors and the elasticity of substitution in consumption between manufacturing and services abcdfestivalgoa.com by: substitute capital for labor as the relative productivity or the relative cost of the two factors changes.

When this number is large, it means that firms can easily substitute between capital and labor. Geometrically, it measures the curvature of the isoquant. In general, the elasticity of substitution depends on the amount of capital and labor. Abstract. Although the economic effects of CO2 abatement depend substantially on the degree to which capital and labor can substitute for energy, the issue of energy-capital-labor substitution is surrounded by considerable uncertainty.

In this paper we use econometrically estimated, sectorally differentiated elasticities of substitution. relationship between capital-labor substitution and the conditions needed for equilibrium indeterminacy (and belief-driven fluctuations) in a one-sector growth model.

With variable capital utilization, the substitution elasticity has little quantitative impact on the minimum degree of increasing returns needed for indeterminacy.

Apr 01,  · Through allocating more capital into transport industry, relevant energy saving technology could be continuously promoted and the substitution between capital and energy will also be realized.

The transition of Chinese transport industry from labor-intensive to capital-intensive Cited by: of human power by harnessing the energy of wind, water, and steam. In the 19th and 20th century, stronger power sources, like electricity, were incorporated into the machines, which significantly increased their power.

11 T nnovativ nter epor 5 The Substitution of Labor. The case of substitutions between energy, capital and labor is provided.

By defining the Variable Output Elasticities Cobb-Douglas function, this article shows that a large class of production functions can be written as Cobb-Douglas function with non-constant output abcdfestivalgoa.com: Frédéric Reynès.

The economic effects of CO2abatement depend substantially on the degree to which capital and labor can substitute for energy. In particular, the elasticities of substitution between energy, capital Author: Claudia Kemfert, Heinz Welsch.

Get this from a library. Capital, energy, and labour substitution: the supply block in OECD medium-term models. [Patrick Artus]. Jobs for tomorrow: the potential for labor for energy labor substitution lifetime car Luxembourg manufacturing mechanization Ministere modernization OECD overall percentage period Plan production processes ratio reconditioning recycling Renault respective growth indices sector services and finishes shows siderurgy skilled workers social.

Capital, Labor, and Productivity under appropriate assumptions about the possibilities for substitution between capital goods, physical labor, and skilled human capital, for. Capital-Labor Substitution, Structural Change and the Labor Income Share Francisco Alvarez-Cuadrado, Ngo Van Long and Markus Poschke Department of Economics, McGill University, Montreal H3A 2T7, Canada.

human capital too far, and think of every di fference in remuneration that we observe in the labor market as due to human capital. For example, if I am paid less than another Ph.D., that must be because I have lower “skills” in some other dimension that’s not being measuredbymyyears of schooling–this is the famous (orinfamous).Wealth and Substitution Effects in Labor and Capital Markets In this chapter, we began by considering the impact of an increase in the price of gasoline on George Exxon who owns a lot of gasoline.

In this exercise, assume that George and I have exactly the same tastes.Published: Keting Shen and John Whalley () Capital–Labor–Energy Substitution in Nested CES Production Functions for China.

The Economies of China and India: abcdfestivalgoa.com by: