论文检索

摘要暂缺

摘要暂缺

摘要暂缺

关于 Cobb-Douglas 与 CES 生产函数模型估计的札记AI 解读

ZELLNER, KMENTA, AND DRfEZE in a recent article [3] specified for the firm a Cobb-Douglas production model in which the traditional profit maximization assumption was modified to explicitly recognize the stochastic nature of profits. Assuming that firms maximize the mathematical expectation of profits, the authors found that under conditions of pure competition least squares estimation of the production function from cross section data on firms' output and inputs provides…

微观视角下的诱致要素增进型技术进步AI 解读

In this paper the question of induced factor augmenting technical change in the context of the profit maximizing firm is addressed. The Kennedy innovation possibility frontier is employed to describe the opportunities available to the firm for factor augmentation and from it the direction of factor augmentation can be chosen. In addition, this opportunity curve can be shifted inwards or outwards according to the expenditure on research and development. The selection of the…

摘要暂缺

摘要暂缺

摘要暂缺

摘要暂缺

It will be convenient to consider in detail one specific form of security option: common stock purchase warrants. The model to be constructed can be extended mutatis mutanidis to any convertible security; Section 4 explicitly relates the model of warrant price to convertible bond price. A common stock purchase warrant is a security which the holder may exchange, at his option, for equity capital. The exchange may be effected by surrendering the warrant and a prespecified sum…

摘要暂缺

In this paper we estimate a complete system of demand equations making full use of the restrictions implied by economic theory. Our theoretical model is based on the Klein-Rubin linear expenditure system which was first estimated by Stone. We place primary emphasis on maximum likelihood estimates obtained using annual time series observations of prices and per capita consumption for the U.S. economy in the period 1948-1965. The plan of the paper is as follows: Section 1…

摘要暂缺

摘要暂缺

摘要暂缺

摘要暂缺

摘要暂缺

We examine the question of whether Leontief's [15] conditions for separability and aggregation need be approximately satisfied if only approximate aggregates are to be constructed. It is found that they must be approximately satisfied unless the functions involved exhibit increasingly irregular behavior as the approximation involved in the aggregate gets better. The irregularities involved are related to the violation of Lipschitz Conditions. The stringency of the Leontief…

There occurs on some occasions a difficulty in deciding the direction of causality between two related variables and also whether or not feedback is occurring. Testable definitions of causality and feedback are proposed and illustrated by use of simple two-variable models. The important problem of apparent instantaneous causality is discussed and it is suggested that the problem often arises due to slowness in recording information or because a sufficiently wide class of…

We begin by considering a simple model of accumulation, with a linear savings function, a constant reproduction rate, homogeneous labor, and equal division of wealth among one's heirs. In such an economy, if the balanced growth path is stable, all wealth and income is asymptotically evenly distributed, with the possible exception, in the case of negative savings at zero income, of a group with zero wealth. In the process of accumulation, there may, however, be a period…

摘要暂缺

摘要暂缺

摘要暂缺

摘要暂缺