Elasticities of substitution and complementarity
نویسندگان
چکیده
منابع مشابه
Elasticities of Substitution and Complementarity
This paper is a modern synthesis of the more than seventy years of literature on the elasticity of substitution. At times, authors, such as Mundlak, have provided syntheses of the literature but these often seem to be forgotten by later authors and particularly by applied economists. I synthesize several of these approaches with the full development of duality theory. There are many different l...
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This paper argues that the conventional definition of the elasticity of complementarity is not well suited to deal with the case of increasing returns. It proposes a slightly different formula, that uses a distance function formulation instead of a production function. The proposed definition coincides with the Hicksian measure in case the production function displays constant returns. It is mo...
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This draft chapter, prepared for inclusion in the (prospective) Handbook of Production Economics, Vol. 1 (Theory), edited by Subash Ray, Robert Chambers, and Subal Kumbhakar, lays out the theoretical foundation of the measurement of the degree of substitutability among inputs utilized in a production process. It proceeds from the well-settled (Hicksian) notion of this measure for two inputs (ty...
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This paper primarily investigates the issue of labour welfare in Indian industries, and seeks to make a contribution to the debate on labour reforms currently underway in India. It investigates the relative importance of technical change, elasticities of substitution, and labour regulations for labour welfare, proxied by the income shares of skilled and unskilled labour in total costs. Three pr...
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ژورنال
عنوان ژورنال: Journal of Productivity Analysis
سال: 2010
ISSN: 0895-562X,1573-0441
DOI: 10.1007/s11123-010-0203-1