Search Results - subject:"elasticity of substitution"

Elasticity of Substitution for Production Functions in Romania and other Countries

Zaman, Gheorghe; Goschin, Zizi - In: Theoretical and Applied Economics 2(507) (2007) 2(507), pp. 3-12

efficiency of labour and capital. It also allows for understanding the elasticity of substitution, which measures the percentage … applied the two factor Constant Elasticity of Substitution (CES) production function, which is considered to be the …

Persistent link: https://www.econbiz.de/10005099733

Why is Europe lagging behind?

Pyyhtiä, Ilmo - Suomen Pankki - 2007

elasticity of substitution between capital and labour. We estimate two different production functions, namely Cobb-Douglas and … associated with R&D investment and perhaps with increasing elasticity of substitution between capital and labour. Hence, our … results suggest that there is no growth paradox in Europe: the R&D factor and the elasticity of substitution between capital …

Persistent link: https://www.econbiz.de/10005648977

The Convergence Dynamics of a Transition Economy; The Case of the Czech Republic

Bruha, Jan; Podpiera, Jiri; Polák, Stanislav - International Monetary Fund (IMF) - 2007

In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Economy Macroeconomics literature and amend it to address specific features such as...

Persistent link: https://www.econbiz.de/10005768774

Safta; Living in a World of Regional Trade Agreements

Rodríguez-Delgado, Jose Daniel - International Monetary Fund (IMF) - 2007

The paper evaluates the South Asia Free Trade Agreement (SAFTA) within the global structure of overlapping regional trade agreements (RTAs) using a modified gravity equation. First, it examines the effects of the Trade Liberalization Program which started in 2006. SAFTA would have a minor effect...

Persistent link: https://www.econbiz.de/10005768976

Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model

Ganelli, Giovanni; Tervala, Juha - International Monetary Fund (IMF) - 2007

This paper focuses on the trade-off faced by governments in deciding the allocation of public expenditures between productivity-enhancing public infrastructures and utility-enhancing public consumption. From the modeling point of view, the paper augments a standard New Open Economy...

Persistent link: https://www.econbiz.de/10005769025

Do South-South Trade Agreements Increase Trade? Commodity-Level Evidence from COMESA

Mayda, Anna Maria; Steinberg, Chad - International Monetary Fund (IMF) - 2007

South-South trade agreements are proliferating: Developing countries signed 70 new agreements between 1990 and 2003. Yet the impact of these agreements is largely unknown. This paper focuses on the static effects of South-South preferential trade agreements stemming from changes in trade...

Persistent link: https://www.econbiz.de/10005769302

The Intensity of using production factors in Romania. Estimates from Cobb-Douglas and CES Models

Zaman, Gheorghe; Goschin, Zizi - In: Romanian Journal of Economics 25 (2007) 2(34), pp. 5-21

of labour and capital. It also allows for understanding the elasticity of substitution, which measures the percentage … for the level of production and GDP. We have also applied the two factor Constant Elasticity of Substitution (CES …

Persistent link: https://www.econbiz.de/10005800673

Border and Behind-The-Border Trade Barriers and Country Exports

Sadikov, Azim M. - International Monetary Fund (IMF) - 2007

How do signatures required for exporting and business registration procedures affect the volume and composition of country's exports? To answer this question, I develop a model where a country can export two types of products: differentiated and homogeneous. I show that export signatures and...

Persistent link: https://www.econbiz.de/10005825677

Finance and Convergence; What's Ahead for Emerging Europe?

Schellekens, Philip; Bems, Rudolfs - International Monetary Fund (IMF) - 2007

This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies pragmatic directions for policymakers. While the "speed limits" to capital inflows...

Persistent link: https://www.econbiz.de/10005826219

Stability analysis in a monetary model with a varying intertemporal elasticity of substitution

Gomes, Orlando - Volkswirtschaftliche Fakultät, … - 2007

function in which the intertemporal elasticity of substitution is constant. Recent literature casts some doubts about the … under the assumption that the elasticity of substitution changes with expectations regarding real economic performance. As a …

Persistent link: https://www.econbiz.de/10005836445