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 ...
In micro-economic theory much room is given to the discussion of inhomogeneous production functions, or more precisely, production functions with a monotonically decreasing elasticity of scale. On the ...
It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...
This paper offers a new interpretation of the elasticity of substitution in the constant elasticity of substitution (CES) utility function under discrete choice and separability. We model an economy ...
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 ...
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