Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 叶创基教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/j.jmacro.2013.07.001 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/0WOS source URL
其它资讯
摘要This paper examines the relation between aggregate elasticity of substitution (AES) and capital accumulation (the AES-K relation) in a two-level, two-sector Solow growth model. There are two intermediate goods produced by capital and labor, while the final good is produced by combining the two intermediate goods. When capital (labor) is only used in producing one of the intermediate goods, then a negative (positive) AES-K relation is the likely outcome. Without specific factors in production, then we have to differentiate the concepts of "global" versus "local" AES-K relation. While the local AES-K relation is possibly monotone, the global AES-K relation is always non-monotone. When the intermediate goods are gross substitutes (complements) in the final-good production, the global AES-K relation is hump- (U-) shaped. (C) 2http://aims.cuhk.edu.hk/converis/portal/Publication/013 Elsevier Inc. All rights reserved.
着者Xue JP, Yip CK
期刊名称JOURNAL OF MACROECONOMICS
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/013
月份12
日期1
卷号38
出版社LOUISIANA STATE UNIV PR
页次6http://aims.cuhk.edu.hk/converis/portal/Publication/0 - 75
国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/0164-http://aims.cuhk.edu.hk/converis/portal/Publication/07http://aims.cuhk.edu.hk/converis/portal/Publication/04
语言英式英语
关键词Aggregate elasticity of substitution (AES); Global and local AES-capital relations; Normalized CES production function
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
