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A note on factor prices and technical progress
Dalarna University, School of Technology and Business Studies, Economics.
2011 (English)In: Technology and Investment, ISSN 2150-4059, Vol. 2, no 3, 202-210 p.Article in journal (Refereed) Published
Abstract [en]

Changes in the factor prices have important impacts on characteristics of investments, such as the expected lifetime, the factor intensity and the factor productivity of new capital goods. Considering both changes in factor prices as well as technical progress, different effects arise at either high substitutability or low substitutability in production. It can be shown that for a production function close to the Cobb-Douglas case, higher interest rates and technical progress will decrease the expected lifetime, the capital intensity and productivity, while the reversed outcome occurs at lower substitutability between factor inputs.

Place, publisher, year, edition, pages
Irvine, USA: Scientific Research Publishing , 2011. Vol. 2, no 3, 202-210 p.
Keyword [en]
Factor prices, Factor intensity, Factor productivity, Technical progress; Optimal lifetime;
National Category
Economics
Research subject
Komplexa system - mikrodataanalys
Identifiers
URN: urn:nbn:se:du-5568DOI: 10.4236/ti.2011.23021OAI: oai:dalea.du.se:5568DiVA: diva2:520369
Available from: 2011-06-14 Created: 2011-06-14 Last updated: 2012-09-07Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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