Klump, Rainer; McAdam, Peter; Willman, Alpo - 2011
The elasticity of substitution between capital and labor and, in turn, the direction of technical change are critical … macroeconomic production function), factor substitution (as made most explicit in Constant Elasticity of Substitution functions) and … on normalization and factor substitution. - Normalization ; Constant Elasticity of Substitution Production Function …