Search Results - subject:"elasticity of substitution"

The Frisch elasticity in the Mercosur countries : a pseudo-panel approach

González, Roberto; Sala, Hector - 2011

This paper provides estimates for the Mercosur countries of the Frisch elasticity - i.e., the elasticity of … substitution between worked hours and real wages holding constant the marginal utility of wealth. We find a strong heterogeneity …

Persistent link: https://www.econbiz.de/10009422476

Factor shares, the price markup, and the elasticity of substitution between capital and labor

Raurich-Puigdevall, Xavier; Sala, Hector; Sorolla i … - 2011

the product market, and provides estimates of the elasticity of substitution under such product market imperfections. We … focus on Spain and the U.S. and show that the elasticity of substitution is above one in Spain and below one in the U.S. We … also show that the price markup drives the elasticity of substitution away from one, upwards in Spain, downwards in the U …

Persistent link: https://www.econbiz.de/10009422480

Temporary employment, job flows and productivity : a tale of two reforms

Cappellari, Lorenzo; Dell'Aringa, Carlo; Leonardi, Marco - 2011

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. We find that the reform of apprenticeship contracts increased job turnover and induced the substitution...

Persistent link: https://www.econbiz.de/10009230787

Housing, Household Portfolio, and Intertemporal Elasticity of Substitution

Hasanov, Fuad - 2011

the important parameters of the intertemporal choice, the intertemporal elasticity of substitution (IES). The IES measures …

Persistent link: https://www.econbiz.de/10014061872

Substituting Complements

Dari‐Mattiacci, Giuseppe; Parisi, Francesco - 2011

The presence of multiple sellers in the provision of (non-substitutable) complementary goods leads to outcomes that are worse than those generated by a monopoly (with a vertically integrated production of complements), a problem known in the economic literature as complementary oligopoly and...

Persistent link: https://www.econbiz.de/10014062412

Substitution Between Immigrants, Natives, and Skill Groups

Borjas, George J. - 2011

The wage impact of immigration depends crucially on the elasticity of substitution between similarly skilled immigrants … and natives and the elasticity of substitution between high school dropouts and graduates. This paper revisits the …

Persistent link: https://www.econbiz.de/10012461198

Intertemporal Substitution in Macroeconomics

Mankiw, Nicholas Gregory - 2011

Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model :f this type. In particular, we...

Persistent link: https://www.econbiz.de/10013132070

Derivation of the Hicks Elasticity of Substitution from the Input Distance Function

Stern, David I. - 2011

The Hicks or direct elasticity of substitution is traditionally derived from the production function. This paper … Shadow Elasticity of Substitution. The new elasticity is more general than the traditional one as it can handle situations of … Complementarity in the same way that the Shadow Elasticity of Substitution is related to the Morishima and Allen-Uzawa Elasticities of …

Persistent link: https://www.econbiz.de/10014211480

Heterogeneous Productivity Shocks, Elasticity of Substitution and Aggregate Fluctuations

Moro, Alessio; Stucchi, Rodolfo - 2011

the dispersion of firms’ productivity. When the elasticity of substitution among goods is larger than one, an increase in … productivity by 0.59% in sectors with an elasticity of substitution larger than one while the same increase in the coefficient of … variation reduces aggregate productivity by 0.07% in sectors with an elasticity of substitution smaller than one …

Persistent link: https://www.econbiz.de/10014181886

The United States and the New Regionalism/ Bilateralism

Yang, Yongzheng; Hilaire, Alvin - International Monetary Fund (IMF) - 2003

Current U.S. trade policy stresses establishing free trade areas (FTAs) with partners spanning the globe. Motivations include enhancing goods and services trade; stimulating investment flows; extending standards on intellectual property rights, labor, and the environment; and addressing...

Persistent link: https://www.econbiz.de/10005768757