Franklin M. Fisher, Robert M. Solow, James M. Kearl; Aggregate Production Functions: Some CES Experiments, The Review of Economic Studies, Volume 44, Issue

Journal Article A Theorem on Technical Progress Get access M. Kalecki M. Kalecki Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 8, Issue 3, June 1941, Pages 178–184, https://doi.org/10.2307/2967601 Published: 01 June 1941

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This paper formulates and estimates a dynamic programming model of optimal educational financing decisions. The main purpose of the paper is to measure the effect of short-term parental cash transfers, received during school, on educational borrowing and in-school work decisions, and on post-graduation lifetime earnings. The estimated parameters of the model imply that parental cash transfers do not significantly influence post-graduation lifetime earnings. Long-term factors such as family background and prior human capital investments are more important. Parental cash transfers do, however, significantly determine the decision to borrow or work during school and the level of lifetime consumption.

Earlier work on aggregate production functions with capital-embodied technology showed that, when firms employ more than one capital type, conditions for partial capital ("equipment") aggregation and for total capital aggregation differ. This paper studies simultaneously existing partial and total aggregates. Existence of a total and one partial aggregate implies existence of the complementary partial aggregate. However, simultaneous existence requires each firm's production function to be strongly separable in its capital subaggregates. The use of subaggregates like "equipment" and "plant" together with an aggregate "capital" thus implies that "plant" and "equipment" are perfect substitutes and is highly questionable.

In Starrett's [1] elegant and important study, there is an oversight in the statement of Lemma 1 (p. 446). The sense of the inequality in equation (

Intergenerational Equity and Exhaustible Resources Get access R. M. Solow R. M. Solow Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 5, December 1974, Pages 29–45, https://doi.org/10.2307/2296370 Published: 01 December 1974

RES (Review of Economic Studies) , January, 1971, concerning whether or not Gorman's Lemma 1 (RES, 1968) can be strengthened by re-laxing Gorman's assumption of arc-connectivity for the space of prospects to connectivity alone. A lemma is proved showing the mentioned relaxation feasible and furnishing proof for Gorman's Lemma 1. This supplies a missing foundation stone of Gorman's "Structure of Utility Functions " and generalizes the results therein.

We study the determinants of the location of subcontracted activity in a general equilibrium model of outsourcing and trade. We model outsourcing as an activity that requires search for a partner and relationship-specific investments that are governed by incomplete contracts. The extent of international outsourcing depends inter alia on the thickness of the domestic and foreign market for input suppliers, the relative cost of searching in each market, the relative cost of customizing inputs and the nature of the contracting environment in each country.

We develop a model of repeated product improvements in a continuum of sectors. Each product follows a stochastic progression up a quality ladder.