scholarly journals Labor-Augmenting Technical Change and the Labor Share: New Microeconomic Foundations

2020 ◽  
Author(s):  
Daniele Tavani ◽  
Luca Zamparelli
Keyword(s):  
Technical Change ◽  
Labor Share ◽  
Microeconomic Foundations

JEEA-FBBVA Lecture 2018: The Microeconomic Foundations of Aggregate Production Functions

2019 ◽  
Vol 17 (5) ◽  
pp. 1337-1392
Author(s):  
David Rezza Baqaee ◽  
Emmanuel Farhi
Keyword(s):  
General Equilibrium ◽  
Technical Change ◽  
Second Order ◽  
Production Functions ◽  
Reduced Form ◽  
Input Output ◽  
Aggregate Production ◽  
General Methodology ◽  
Microeconomic Foundations

Abstract Aggregate production functions are reduced-form relationships that emerge endogenously from input–output interactions between heterogeneous producers and factors in general equilibrium. We provide a general methodology for analyzing such aggregate production functions by deriving their first- and second-order properties. Our aggregation formulas provide nonparametric characterizations of the macroelasticities of substitution between factors and of the macrobias of technical change in terms of microsufficient statistics. They allow us to generalize existing aggregation theorems and to derive new ones. We relate our results to the famous Cambridge–Cambridge controversy.

Impacts of Environmental Regulation on Sustainable Economic Growth

2018 ◽  
Vol 9 (9) ◽  
pp. 749-773
Author(s):  
Jonathan Fisher
Keyword(s):  
Economic Growth ◽  
Environmental Regulation ◽  
Technical Change ◽  
Best Practice ◽  
Environmental Regulations ◽  
The European Union ◽  
Porter Hypothesis ◽  
The United Kingdom ◽  
Environment Agency ◽  
Sustainable Economic Growth

There is considerable concern and debate about the economic impacts of environmental regulations. Jonathan Fisher, former Economics Manager at the Environment Agency in England and Wales, reviews the available evidence on this subject. Section 2 presents estimates of the costs and benefits of environmental regulations. Section 3 examines the impacts of environmental regulations on economic growth, innovation and technical change as well as impacts on competitiveness and any movement of businesses to less pollution havens. He questions call for greater certainty regarding future environmental regulations, whereas in fact there should be calls for less uncertainty. This section then suggests how this could be achieved. This section then finishes with an overview of the available evidence. This includes an examination of the Porter Hypothesis that environmental regulations can trigger greater innovation that may partially or more than fully offset the compliance costs. Section 4 then sets out principles for how better environmental regulation can improve its impacts on sustainable economic growth and illustrates how the European Union (EU) Water Framework Directive is a good example of the application of these principles in practice. Section 5 reviews current and recent political perspectives regarding developments in environmental regulations across the EU and shows how the United Kingdom (UK) has successfully positively managed to influence such developments so that EU environmental regulations now incorporate many of these principles to improve their impacts on economic growth. Section 5.1 then examines the implications of Brexit for UK environmental regulations. Finally, Section 6 sets out some best practice principles to improve the impacts of environmental regulation on sustainable economic growth, innovation and technical change.

Mission in Britain today: some modest reflections and proposals

Holiness ◽  
2020 ◽  
Vol 1 (2) ◽  
pp. 161-176
Author(s):  
Stephen Bevans
Keyword(s):  
Technical Change ◽  
Adaptive Change ◽  
Image Of God ◽  
Images Of God ◽  
Positive Image ◽  
The Church

AbstractWhile ‘Mission in Britain today’ includes many aspects, this article focuses on the witness of the Church within Britain’s contemporary highly secularized culture. Rather than ‘technical change’, the Church is called to work at ‘adaptive change’, and so to concentrate less on strategies and more on internal renewal. Such adaptive change involves freeing people’s imagination from simplistic and abusive images of God, offering a positive image of God that is inspiring and truly challenging, recognizing the kenotic nature of the Church, and realizing that mission is carried out in a world of grace where God is already present and working

Impact of Determinants of Industrial Development on Employment and Wages in Indian Manufacturing

2020 ◽  
pp. 18-30
Keyword(s):  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Technical Change ◽  
Positive Impact ◽  
Manufacturing Sector ◽  
Factor Productivity ◽  
Firm Level ◽  
Employment Level ◽  
The Impact ◽  
Level Performance

ABSTRACT The present study was undertaken to explore the evolution of the impact of firm-level performance on employment level and wages in the Indian organized manufacturing sector over the period 1989-90 to 2013-14. One of the major components of the economic reform package was the deregulation and de-licensing in the Indian organized manufacturing sector. The impact of firm-level performance on employment and wages were estimated for Indian organized manufacturing sector in major sub-sectors in India during the period from 1989-90 to 2013-14 of the various variables namely profitability ratio, total factor productivity change, technical change, technical efficiency, openness (export-import), investment intensity, raw material intensity and FECI in total factor productivity index, technical efficiency, and technical change. The study exhibited that all explanatory variables except profitability ratio and technical change cost had a positive impact on the employment level. Out of eight variables, four variables such as net of foreign equity capital, investment intensity, TFPCH, and technical efficiency change showed a positive impact on wages and salary ratio and rest of the four variables such as openness intensity, technology acquisition index, profitability ratio, and technical change had negative impact on wages and salary ratio. In this context, the profit ratio should be distributed as per the marginal rule of economics such as the marginal productivity of labour and capital.

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