Search Results - subject:"Substitution elasticity"

The sustainability of Chinese growth and the aggregate factor substitution elasticity

Whalley, John; Xing, Chunbing - 2012

, in contrast to Russia, the declining labor share in GDP over time, which suggests a substitution elasticity above rather … than below one. We use time series data on labor's share in GDP to estimate a substitution elasticity for China, finding … that the substitution elasticity is greater than one. We then discuss how sub aggregate high growth can occur when there …

Persistent link: https://www.econbiz.de/10010280849

Substitution elasticities in a CES production framework: An empirical analysis on the basis of non-linear least squares estimations

Koesler, Simon; Schymura, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

Effectiveness, cost-efficiency and distribution issues are crucial for any form of future regulation. This results in the need for reliable instruments to assess regulations ex ante. Elasticities are key parameters for such instruments. We consistently estimate substitution elasticities for a...

Persistent link: https://www.econbiz.de/10010957611

The Sustainability of Chinese Growth and the Aggregate Factor Substitution Elasticity

Whalley, John; Xing, Chunbing - CESifo - 2012

, in contrast to Russia, the declining labor share in GDP over time, which suggests a substitution elasticity above rather … than below one. We use time series data on labor’s share in GDP to estimate a substitution elasticity for China, finding … that the substitution elasticity is greater than one. We then discuss how sub aggregate high growth can occur when there …

Persistent link: https://www.econbiz.de/10009645643

Why to employ both migrants and natives? A study on task-specific substitutability

Haas, Anette; Schanne, Norbert; Lucht, Michael - Centre for Research and Analysis of Migration (CReAM), … - 2012

This paper analyzes the performance of migrants on the German labor market and its dependence on the tasks performed on their jobs. Recent work suggests quantifying the imperfect substitutability relationship between migrants and natives as a measure for the hurdles migrants have to face. Our...

Persistent link: https://www.econbiz.de/10010568470

Life-Cycle Preferences Revisited

Bommier, Antoine - 2012

An axiomatic construction for lifecycle preferences accounting for the finiteness and the randomness of life duration is provided. We emphasize the role of intertemporal correlation aversion and explain why multiplicative preferences provide an interesting alternative to additive preferences,...

Persistent link: https://www.econbiz.de/10014174704

Flow and Stock Effects of Large-Scale Treasury Purchases

D'Amico, Stefania - 2012

The Federal Reserve's 2009 program to purchase $300 billion of U.S. Treasury securities represented an unprecedented intervention in the Treasury market and provides a natural experiment with the potential to shed light on the price elasticities of Treasuries and theories of supply effects in...

Persistent link: https://www.econbiz.de/10013115544

US Elasticities of Substitution and Factor-Augmentation at the Industry Level

Young, Andrew T. - 2012

sectors, the substitution elasticity for the manufacturing sector is lower than that of the services sector; the elasticity of …

Persistent link: https://www.econbiz.de/10013115989

Temporary Employment, Job Flows and Productivity : A Tale of Two Reforms

Cappellari, Lorenzo - 2012

We investigate the effects of two reforms of temporary employment using panel data on Italian firms. We exploit variation in their implementation across regions and sectors for identification. Our results show that the reform of apprenticeship contracts increased job turnover and induced the...

Persistent link: https://www.econbiz.de/10013106655

Substitution Between Bio-Fuels and Fossil Fuels : Is There a Green Paradox?

Grafton, Quentin - 2012

We show that (i) subsidies for renewable energy policies with the intention of encouraging substitution away from fossil fuels may accentuate climate change damages by hastening fossil fuel extraction, and that (ii) the opposite result holds under some specified conditions. We focus on the case...

Persistent link: https://www.econbiz.de/10013106764

Substitution Elasticities in a CES Production Framework - An Empirical Analysis on the Basis of Non-Linear Least Squares Estimations

Koesler, Simon - 2012

Persistent link: https://www.econbiz.de/10013109848