The Morishima gross elasticity of substitution

被引：13

作者：

Blackorby, Charles

Primont, Daniel

Russell, R. Robert ^{[1
]}

机构：

[1] Univ Calif Riverside, Dept Econ, Riverside, CA 92521 USA

[2] Univ Warwick, Dept Econ, Coventry CV4 7AL, W Midlands, England

[3] So Illinois Univ, Carbondale, IL 62901 USA

来源：

JOURNAL OF PRODUCTIVITY ANALYSIS | 2007年 / 28卷 / 03期

关键词：

elasticity of substitution; relative factor shares; homotheticity;

D O I：

10.1007/s11123-007-0053-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that the Hotelling-Lau elasticity of substitution, an extension of the Allen-Uzawa elasticity to allow for optimal output-quantity (or utility) responses to changes in factor prices, inherits all of the failings of the Allen-Uzawa elasticity identified by Blackorby and Russell [(1989) Am Econ Rev 79: 882-888]. An analogous extension of the Morishima elasticity of substitution to allow for output quantity changes preserves the salient properties of the original Hicksian notion of elasticity of substitution.

引用

页码：203 / 208

页数：6

共 13 条

[1]

Allen RGD, 1934, ECONOMICA-NEW SER, V1, P196

[2]

Bertoletti P, 2005, J PROD ANAL, V24, P183, DOI 10.1007/s11123-005-4703-3

[3]

BERTOLETTI P, 2001, RIV ITALIANA EC, V6, P87

[4]

BLACKORBY C, 1989, AM ECON REV, V79, P882

[5] THE MORISHIMA ELASTICITY OF SUBSTITUTION - SYMMETRY, CONSTANCY, SEPARABILITY, AND ITS RELATIONSHIP TO THE HICKS AND ALLEN ELASTICITIES [J].

BLACKORBY, C ;

RUSSELL, RR .

REVIEW OF ECONOMIC STUDIES, 1981, 48 (01) :147-158

[6]

Blackorby C., 1975, 751 U CAL DEP EC

[7] To tell the truth about interpreting the Morishima Elasticity of Substitution [J].

Davis, GC ;

Shumway, CR .

CANADIAN JOURNAL OF AGRICULTURAL ECONOMICS-REVUE CANADIENNE D ECONOMIE RURALE, 1996, 44 (02) :173-182

[8]

Hicks J. R., 1963, The Theory of Wages

[9]

KIM HY, 2000, AUST ECON PAP, V39, P245

[10]

LAU LJ, 1978, PRODUCTION EC DUAL A, V1

← 1 2 →