The two-level CES aggregate production function-that nests a CES into another CES function-has recently been used extensively in theoretical and empirical applications of macroeconomics. We examine ...
Oxford Review of Economic Policy, Vol. 23, No. 1, THE SOLOW GROWTH MODEL (SPRING 2007), pp. 94-114 (21 pages) In this paper, we seek to re-establish the link between the constant elasticity of ...
Empirical evidence indicates that the elasticity of capital-labor substitution for the aggregate U.S. economy is below unity. In contrast, the existing indeterminacy literature has mostly restricted ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Most macroeconomic models assume that aggregate output is generated by a specification for the production function with ...
Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Michael Boyle is an experienced financial ...
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