This paper explores the hypothesis (most notably made by French economist Thomas
Piketty) that slow growth rates lead to rising inequality. If true, this hypothesis would pose …

In a Walrasian labor market, the labor income share is constant under the assumptions of a
Cobb–Douglas production function and perfect competition. Given the observed decline of …

Staffing decisions are crucial for retailers since staffing levels affect store performance and
labor‐related expenses constitute one of the largest components of retailers' operating …

The degree of substitutability between clean and dirty energy plays a central role in leading
economic analyses of optimal environmental policy. Despite the importance, assuming a …

Purpose: To specify a Variable Elasticity of Substitution function (VES), in which the
estimated Elasticity of Substitution (ES) can give some implications for the tendency of …

We analyze the macroeconomic substitution between clean and dirty inputs through the lens
of production isoquants derived from a numerical bottom-up model of electricity production …

Modern western economies (in the Eurozone and elsewhere) face a number of challenges
over the coming decades. Achieving full employment, meeting climate change and other key …

This paper characterizes the elasticity of factor substitution in one-sector convex growth
models with a general production function. It shows that an elasticity of substitution that is …

We develop an overlapping generations model to examine how public and private
education expenditures impacts on an economy's long run outcomes. Young agents' …

The two‐level CES aggregate production function—that nests a CES into another CES
function—has recently been used extensively in theoretical and empirical applications of …