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Technical change and the elasticity of factor substitution

  • This paper addresses the relationship between technical change and the elasticity of substitution between factors of production. It is shown how the elasticity within a CES production setting can change due to technical change. Technical change is interpreted in the spirit of horizontal differentiation as in many growth models. Cases for positive and negative returns to differentiation are analyzed which can be understood as progress or complexity congestions. It is shown how the elasticity changes due to technical choices for each of them.

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Metadaten
Author:Jürgen AntonyGND
URN:urn:nbn:de:bsz:951-opus-374
Series (Serial Number):Beiträge der Hochschule Pforzheim (147)
Publisher:Hochschule Pforzheim
Place of publication:Pforzheim
Document Type:Working Paper
Language:English
Year of Completion:2014
Date of first Publication:2021/01/14
Publishing Institution:Hochschule Pforzheim
Release Date:2021/01/14
Tag:CES production function; Elasticity of substitution; Inequality
Page Number:15
DDC classes:300 Sozialwissenschaften / 330 Wirtschaft
Classification of Pforzheim University:Teilbibliothek Technik, Recht und Wirtschaft / Wirtschaftswissenschaften
Licence (German):License LogoCreative Commons - CC BY-NC-ND - Namensnennung - Nicht kommerziell - Keine Bearbeitungen 4.0 International