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> (2010-2011)
> Journal article
> Högskolan Dalarna
> Melén Carl Gustav >
A note on factor pr...
Abstract
Subject headings
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- 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.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Factor prices
- Factor intensity
- Factor productivity
- Technical progress; Optimal lifetime
- Complex Systems – Microdata Analysis
- Komplexa system - mikrodataanalys
Publication and Content Type
- ref (subject category)
- art (subject category)
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