| Reference : Tasks, Technology, and Factor Prices in the Neoclassical Production Sector |
| Scientific journals : Article | |||
| Business & economic sciences : Macroeconomics & monetary economics | |||
| http://hdl.handle.net/10993/52844 | |||
| Tasks, Technology, and Factor Prices in the Neoclassical Production Sector | |
| English | |
Irmen, Andreas  [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Economics and Management (DEM) >] | |
| 2020 | |
| Journal of Economics | |
| Springer | |
| 131 | |
| 2 | |
| 101-121 | |
| Yes | |
| International | |
| 1617-7134 | |
| [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 task-demand 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. | |
| Fonds National de la Recherche - FnR | |
| Competitive Growth Theory-CGT | |
| Researchers | |
| http://hdl.handle.net/10993/52844 | |
| 10.1007/s00712-020-00705-9 | |
| FnR ; FNR11591926 > Andreas Irmen > CGT > Competitive Growth Theory > 01/03/2018 > 30/08/2018 > 2017 |
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