Search Results - subject:"elasticity of substitution"

Shocking stuff : technology, hours, and factor substitution

Cantore, Cristiano; León-Ledesma, Miguel A.; McAdam, Peter - 2010

The reaction of hours worked to technology shocks represents a key controversy between RBC and New Keynesian explanations of the business cycle. It sparked a large empirical literature with contrasting results. We demonstrate that, with a more general and data coherent supply and production...

Persistent link: https://www.econbiz.de/10008771789

International trade without CES : estimating translog gravity

Novy, Dennis - 2010

This paper derives a micro-founded gravity equation in general equilibrium based on a translog demand system that allows for endogenous markups and substitution patterns across goods. In contrast to standard CES-based gravity equations, trade is more sensitive to trade costs if the exporting...

Persistent link: https://www.econbiz.de/10008772896

International trade without CES : estimating translog gravity

Novy, Dennis - 2010

Persistent link: https://www.econbiz.de/10008840294

Intergenerational Risk Sharing and Labour Supply in Collective Funded Pension Schemes with Defined Benefits

Bonenkamp, Jan; Westerhout, Ed W. M. T. - 2010

In many countries, collective funded pension schemes with defined benefits (DB) are being replaced by individual schemes with defined contributions. Collective funded DB pensions may indeed reduce social welfare. This will be the case when the schemes feature income-related contributions that...

Persistent link: https://www.econbiz.de/10014192852

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model

Kehoe, Timothy Jerome - 2010

elasticity of substitution between traded goods. Divergence can occur for parameter values that would imply convergence in a …

Persistent link: https://www.econbiz.de/10012760621

Normalized CES supply-side system approach: How to replicate Klump, McAdam, and Willman (2007)

Daniels, Gerald Eric; Kakar, Venoo - In: Economics: The Open-Access, Open-Assessment E-Journal 12 (2018) 2018-19, pp. 1-11

-side system approach to estimate the value of the elasticity of substitution between factors of production and identify the growth …

Persistent link: https://www.econbiz.de/10011812937

Optimal equity capital requirements for large Swiss banks

Junge, Georg; Kugler, Peter - In: Swiss Journal of Economics and Statistics 154 (2018) 1, pp. 1-21

Ten years after the worst financial crisis of the post-war period, Switzerland has established a Too-Big-To-Fail (TBTF) framework. Under this framework, the two large Swiss banks are subject to substantial capital requirements. It is not obvious whether the TBTF capital requirements are...

Persistent link: https://www.econbiz.de/10013205746

Elasticity of Substitution in Post-Communist Economies

Szomolányi, Karol; Lukáčik, Martin; Lukáčiková, … - 2018

In our research we estimate the elasticity of substitution post-communist economies integrated in European Union. There … are many approaches to estimate the production function coefficients as the elasticity of substitution. We argue that a … a world literature we estimate relatively low value of the elasticity of substitution in European post …

Persistent link: https://www.econbiz.de/10011920436

Are Taxes Turning Humans into Machines? Using Payroll Tax Variation to Estimate the Capital-Labor Elasticity of Substitution

Benzarti, Youssef; Harju, Jarkko - 2018

This paper provides the first quasi-experimental estimate of the micro capital-labor elasticity of substitution. We use …-labor elasticity of substitution of zero. Using a conceptual framework to aggregate micro elasticities, we estimate a macro capital …-labor elasticity of substitution of 0.17. Our finding sheds new light on the role of the substitution of labor with capital in the fall …

Persistent link: https://www.econbiz.de/10014113519

Decreasing Hours, the Labor Share, and the Elasticity of Substitution

Serrano Quintero, Rafael - 2018

The decline in the labor share has attracted the attention of economists in recent years. Empirical literature has documented that this decline can be explained by the increasing capital intensity of the U.S. economy. This paper proposes a mechanism that accounts for the increasing capital...

Persistent link: https://www.econbiz.de/10014117926