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Recently, Bhatti and Khan considered various functional forms to see their suitability in terms of efficiency and competency in assessing production process based on agricultural data. This paper reviews some models recently used in the literature and selects the most suitable one for measuring...
Persistent link: https://www.econbiz.de/10014928893
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covers the period 1993-2005. The estimates indicate that it is advantageous to adjust the stock of labour and capital … simultaneously. The cost advantage of simultaneous changes is small for capital but is large for labour. The empirical results … suggest that when estimating separate factor demand models the bias of parameter estimates is most severe in case of labour …
Persistent link: https://www.econbiz.de/10010278762
In this article, as part of the symposium on total factor productivity, Erwin Diewert of the University of British Columbia provides a comprehensive discussion of what is needed to develop reliable measures of total factor productivity in terms of output and the different classes of inputs. He...
Persistent link: https://www.econbiz.de/10005518958
productivity growth, capital per worker and the skills level of the workforce as represented by educational attainment, have … improved markedly in the construction sector in recent years. He explains the stagnation of labour productivity growth despite …
Persistent link: https://www.econbiz.de/10005518983
goods in price indices; methods of capturing the skill composition of labour; measurement of capital input; and the … difficult-to-measure services industries; better data on hours worked by industry; improvement in the quality of data on capital …
Persistent link: https://www.econbiz.de/10005518991
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The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic conclusions remain valid. The proposed alternative solution which is presented hare is based on the constraint of a common general profit rate in both spaces and a money...
Persistent link: https://www.econbiz.de/10005729543
consumption, using their own capital and their own unpaid labor. Goods and services produced by households for their own use … of purchased intermediate commodities into final consumption commodities. Households use their own capital and their own …
Persistent link: https://www.econbiz.de/10005587750
with labour- and capital-augmenting technical progress. The model is augmented by imperfect competition in the output …The study demonstrates that the decline in the labour share in Finland can not be explained by the Cobb …
Persistent link: https://www.econbiz.de/10005619082