using a normalized CES supply-side system approach to estimate the value of the elasticity of substitution between factors …

The elasticity of substitution between capital and labor (σ) is usually considered a "deep parameter". This paper shows … intertwined linkage among globalization, technology and the elasticity of substitution should be taken into account in any policy … have different consequences for the OECD and the non-OECD economies. In the OECD, we find that the elasticity of …

role in Europe than in the US. Finally, by modelling the elasticity of substitution between ICT and labour as a function of …

article: We suggest the co-integration estimation form to estimate short-run elasticity of substitution. Using U.S. NIPA … aggregate time series we estimate aggregate short-run elasticity of substitution. In comparison with estimations in economic …-run elasticity of substitution coefficient. The co-integration relationship is given by the theoretical assumption of the labour …

structure of demand is not easily approximated by using a single elasticity of substitution, which is often done in the … the first globalisation (ahead of World War I), and today. First, I derive structural estimates of the elasticity of … substitution at the product-level for both globalisation episodes. I find substantial heterogeneity in terms of how elastic demand …