Reference : TASKS, TECHNOLOGY, AND FACTOR PRICES IN THE NEOCLASSICAL PRODUCTION SECTOR
E-prints/Working papers : Already available on another site
Business & economic sciences : Macroeconomics & monetary economics
http://hdl.handle.net/10993/39185
TASKS, TECHNOLOGY, AND FACTOR PRICES IN THE NEOCLASSICAL PRODUCTION SECTOR
English
Irmen, Andreas mailto [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA) >]
2018
No
[en] Technical Change ; Factor Prices ; Factor-Specific Tasks ; Neoclassical Production
[en] This paper introduces tasks into the neoclassical production sector. Competitive
firms choose the profit-maximizing amounts of factor-specific tasks that determine
their factor demands and output supplies. We show that the effect of factor-augmenting
technical change on relative and absolute factor prices can be decomposed into a productivity
effect and a market size effect of opposite sign. These effects appear since
the novel task-based approach distinguishes between the demands for tasks and the
demands for factors. This perspective provides a new intuition for the emergence of
relative and absolute factor biases and the role of the elasticity of substitution.
Researchers ; Students
http://hdl.handle.net/10993/39185
https://ideas.repec.org/p/luc/wpaper/18-22.html
https://ideas.repec.org/e/pir7.html
FnR ; FNR11591926 > Andreas Irmen > CGT > Competitive Growth Theory > 01/03/2018 > 30/08/2018 > 2017

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