Capital and Labor

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Natural Capital ◽  
Elasticity Of Substitution ◽  
Unskilled Labor ◽  
Labor Input ◽  
Capital Input ◽  
Labor Inputs

This chapter examines the efficiency with which the aggregate labor input and, respectively, the aggregate capital input are used in production. To this end, it uses an equation that takes into account coefficients that operate as augmentation coefficients for “natural capital equivalents,” that is, the capital input expressed in efficiency units of natural capital, and “unskilled-labor equivalents,” or the labor input in efficiency units of unskilled labor. After inferring augmentation coefficients for labor and capital, the chapter estimates variable capital shares and introduces a broader measure of labor inputs. The results reveal an imperfect elasticity of substitution between natural and reproducible capital.

scholarly journals Substitutability and the Valuation of Natural Capital

Conservation ◽  
2021 ◽  
pp. 159-181
Author(s):  
Charles Perrings
Keyword(s):  
Environmental Conditions ◽  
Natural Capital ◽  
Utility Functions ◽  
Elasticity Of Substitution ◽  
Goods And Services ◽  
Capital Assets ◽  
Relative Value

Chapter 7 considers the substitutability between produced and natural capital—assets used in the production of goods and services, and between environmental and other goods and services. It shows the ways in which the limits of substitutability are captured in both production and utility functions, and what this means for conservation. The chapter also discusses the relation between substitutability and the value of environmental inputs, using concepts of gross substitutability and complementarity, and the elasticity of substitution. The authors also note that the relative value of environmental inputs is frequently dependent on the environmental conditions under which production takes place.

Natural and Reproducible Capital

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Natural Capital ◽  
Elasticity Of Substitution ◽  
Capital Goods ◽  
Negative Relation ◽  
Factor Bias ◽  
The Way

This chapter examines possible factor biases in the way different countries use reproducible and natural capital, using an equation that also takes into account the bundle of capital goods which, combined with labor, is used to produce GDP. The goal of the chapter is to determine how the factor bias varies across countries, and in particular how it varies with income per worker. The factor bias requires three ingredients: relative supply, relative marginal products, and elasticity of substitution. After estimating the relative supply of reproducible capital and relative marginal productivities, the chapter infers the bias toward reproducible capital. The results reveal a negative relation between income and relative marginal products.

Skilled and Unskilled Labor

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Relative Efficiency ◽  
Wage Rate ◽  
School Quality ◽  
Elasticity Of Substitution ◽  
Perfect Competition ◽  
Relative Wage ◽  
Unskilled Labor ◽  
Skilled Worker ◽  
Skill Bias ◽  
Skilled And Unskilled Labor

This chapter examines how skilled and unskilled labor vary across countries by taking into account the wage rate for skilled labor and the wage rate for unskilled labor, based on the assumption that labor markets approximate conditions of perfect competition. The equation to be used implies that the relative wage of a skilled worker is decreasing with the relative supply of skills. However, for a given supply of skills the relative wage also depends on the relative efficiency with which skills are used. The chapter first estimates the skill bias, the relative supply of skills, and the skill premium before deriving a calibrated value for the elasticity of substitution. It then presents the key empirical results for the skill bias in technology across countries and goes on to discuss alternative skill thresholds. It also considers the implications of differences in school quality and the implications of capital–skill complementarity.

Introduction and Preliminaries

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Technical Change ◽  
Relative Efficiency ◽  
Natural Capital ◽  
Physical Capital ◽  
Mineral Deposits ◽  
Unskilled Labor ◽  
Poor Countries ◽  
Absolute Efficiency ◽  
Rich Countries ◽  
Analytical Tools

This book examines how the mode of production, or production technology, varies systematically across countries, depending on their endowments of different factors of production. Using aggregate production functions as analytical tools, the book shows that technology differences and technical change are factor biased: they change not only the overall efficiency with which a country exploits its bundle of productive inputs, but also the relative efficiency with which different factors contribute to production. It argues that the efficiency with which skilled labor is used relative to unskilled labor is greater in richer countries than in poorer countries. It also explains why the efficiency with which reproducible capital (equipment and structure) is used relative to natural capital (mineral deposits, land, timber, etc.) is higher in rich countries, and the absolute efficiency with which physical capital is used appears to be not lower, and may even be higher, in poor countries.

Empirical Analysis on the Construction Workers’ Contribution to Chinese Construction Industry Economic Growth and Sharing of Ecnomic Gain

2011 ◽  
Vol 71-78 ◽  
pp. 296-299
Author(s):  
Min Chen ◽  
Qi Ming Li ◽  
Chao Qun Peng
Keyword(s):  
Construction Industry ◽  
Construction Workers ◽  
Economic Gain ◽  
Analysis Model ◽  
Labor Input ◽  
Contribution Rate ◽  
Capital Input ◽  
Management Level ◽  
Fixed Assets ◽  
Investment In Fixed Assets

This paper utilizes the production function model as analysis model, selects gross product of construction industry of China as output (Q), the sum of fixed assets and current assets of construction industry of China as capital input (K), and the numbers of construction workers of China as labor input (L). The comparable prices of ‘Q’ and ‘K’ from 1993-2009 are calculated by using the deflator index of gross domestic product and the price indices of investment in fixed assets, and the base year is 1991. The result of regression analysis shows the labor elasticity factor is 0.42 by using the software of ‘EVIEWS’, then the contribution rate of construction workers is calculated as 33.2%, and the sharing rate of construction economic gain is 15.69%. Comparing with the contribution of the construction workers, their sharing is less. This paper also finds the construction industry of China is the period of decreasing return to scale, this demonstrates the management level of construction industry shall be improved.

scholarly journals Administration above Administrators: The Changing Technology of Health Care Management

2020 ◽  
Vol 110 ◽  
pp. 274-278
Author(s):  
Abe Dunn ◽  
Joshua D. Gottlieb ◽  
Adam Hale Shapiro
Keyword(s):  
Health Care ◽  
Care Management ◽  
Health Care Management ◽  
Health Care Administration ◽  
Office Workers ◽  
Labor Input ◽  
Critical Part ◽  
Labor Inputs

This paper measures the costs and types of administrative inputs in health care. We use data on labor and nonlabor inputs by industry and categorize them as administrative or not. We find that nonlabor inputs are a critical part of administrative spending, over and above labor inputs. Trends in nonlabor administrative input spending have differed dramatically from that of labor input spending for hospitals over the last 20 years. Hospitals have substituted away from office workers and toward externally purchased inputs. The share of managers and technical workers in administration has grown. The technology of health care administration is changing.

Farm Capital Formation as a Use of Farm Labor in the United States, 1850–1910

1966 ◽  
Vol 26 (3) ◽  
pp. 348-362 ◽  
Author(s):  
Martin L. Primack
Keyword(s):  
United States ◽  
Labor Force ◽  
Present Article ◽  
The United States ◽  
Capital Formation ◽  
Farm Labor ◽  
Labor Input ◽  
Land Clearing ◽  
Labor Inputs ◽  
American Agriculture

This article brings together some estimates of labor inputs in capital formation in American agriculture, compares the various forms of capital as uses of farm labor, and relates the labor input to the size of the labor force in agriculture in the period 1850–1910. Two major items of farm-formed capital—land clearing and farm construction—have been discussed in earlier articles. The present article adds to these estimates the material on the lesser forms of farm capital—fencing, drainage, and irrigation—and discusses the significance of the totals arrived at.

scholarly journals Units of labor input of orthopedists during consultation for implants. Fixed restorations

2017 ◽  
Vol 24 (1) ◽  
pp. 2017113
Author(s):  
Ye. V. Diev ◽  
T. V. Dieva ◽  
V. Obidnyak ◽  
V. A. Labunets
Keyword(s):  
Labor Input ◽  
Prosthetic Rehabilitation ◽  
Actual Time ◽  
Prosthetic Dentistry ◽  
Burn Out ◽  
Time Standards ◽  
Labor Inputs ◽  
Edentulous Patients ◽  
Time Expenditures ◽  
Single Implant

Implant-supported fixed restorations are widely used in practice with the aim of prosthetic rehabilitation of edentulous patients; however, in Ukraine, the aforementioned methods are currently not completely lawful due to the absence of departmental standards of time needed for orthopedists to manufacture such types of dentures.In prosthetic dentistry, labor inputs are determined based on the average standard working time for professionals that not always correspond to the actual time expenditures which must be taken into consideration when determining the appropriate units of labor input. The objective of the research was to determine the units of labor input of orthopediststo manufacture implant-supported fixed restorations.Materials and methods. The object of the research involved clinical processes of manufacturing implant-supported fixed restorations.The units of labor input were determined based on the average time standards obtained in the result of timing measurements of clinical processes of providing appropriate care.The conversion of the obtained time standards (TS) to the units of labor input (ULI) was performed according to the formula: ULI = Tts / T1uliResults and discussion. Clinical processes of manufacturing 69 single implant-supported restorations by 15 orthopedists were studied. There were manufactured 13 crowns with screw-retained solid abutments, 21 crowns with screw-retained abutments, 17 single abutments, 18 screw-retained crowns with burn-out plastic abutments or abutments with a platform for attaching and pressing.In addition, the work of 18 orthopedists who manufactured 30 implant-supported bridges including 8 prosthetic dentures with screw-retained solid abutments, 10 prosthetic dentures with screw-retained abutments, 12 screw-retained dentures with burn-out plastic abutments or abutments with a platform for attaching and pressing was investigated and timed.The results of the research showed that the initial values of the labor input indicators when manufacturing single implant-supported fixed restorations were within the range of 1.5-1.5 ULI (the average values) and 3.3-3.5 ULI (the actual values) depending on the prosthetic construction. When manufacturing implant-supported bridges, the indicators were as follows: the average values – 2.1-2.3 ULI, the actual values – 3.6-3.9 ULI depending on the prosthetic construction as well. Conclusions. The results obtained due to timing measurements of clinical processes of manufacturing implant-supported fixed restorations, their analysis as well as the calculations of the standard time showed that the units of labor input of orthopedists determined on the basis of the average time standards did not coincide with the units of labor input of manufacturing these prostheses determined on the basis of the actual time standards.

scholarly journals Research on the contribution rate of scientific and technological progress to Chongqing’s economic growth Based on the Solow Growth model

2021 ◽  
Vol 235 ◽  
pp. 01012
Author(s):  
Yixin Zheng ◽  
Yucheng Wang
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Capital Investment ◽  
Technological Progress ◽  
Labor Input ◽  
Contribution Rate ◽  
Development Mode ◽  
Capital Input ◽  
High Level ◽  
The Impact

In the context of current proposed transformation of economic development of the region are actively rely on capital from investment to promote economic growth mode to a mode relying on technological progress to promote economic growth up. Therefore, this paper selects the sample data of Chongqing from 2010 to 2017, and based on the empirical analysis of the Solow residual value model, using SPSS statistics 25 software, studies the contribution of Chongqing’s capital investment and labor input, especially technological progress, to economic growth. The research shows that the contribution rate of Chongqing’s capital input to economic growth has always been at a relatively high level, but it has shown a general downward trend. At the same time, the elasticity coefficient of capital input is small, indicating that its contribution to economic growth is small; the contribution rate of labor input fluctuates greatly but the impact is small; the contribution rate of scientific and technological progress to economic growth shows an overall upward trend, which has become an important factor for driving Chongqing’s economic growth after capital investment. Therefore, governments must accelerate the transformation of the economic development mode, vigorously promote the development of science and technology, and rely more on scientific and technological progress to promote economic growth and achieve sustainable economic development.

Skilled Labor, Unskilled Labor, and Experience Over Time

2016 ◽  
Author(s):  
Francesco Caselli
Keyword(s):  
Technical Change ◽  
The United States ◽  
Elasticity Of Substitution ◽  
Relative Wage ◽  
Unskilled Labor ◽  
Skilled Workers ◽  
Skill Bias ◽  
Unskilled Workers ◽  
Joint Behavior ◽  
Over Time

This chapter examines what the joint behavior of relative wage and relative supply reveal about the underlying changes in technology, with a focus on the United States. It distinguishes workers by two characteristics: skill and experience. It classifies the labor force into four kinds of workers: experienced skilled workers, inexperienced skilled workers, experienced unskilled workers, and inexperienced unskilled workers. The equation takes into account the quantities of unskilled inexperienced inputs, unskilled experienced inputs, skilled inexperienced inputs, and skilled experienced inputs, as well as the elasticity of substitution between unskilled inexperienced and unskilled experienced workers, and skilled inexperienced and skilled experienced ones. The results confirm many previous findings of a significant skill bias in technical change between 1960 and 2010, and also reveal an experience bias in technical change over roughly the same period, especially among skilled workers and since the 1980s.

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