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Allen Partial Elasticity
The Experts below are selected from a list of 30 Experts worldwide ranked by ideXlab platform
Jongkon Kamlai – One of the best experts on this subject based on the ideXlab platform.
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How Much Do Low-skilled Immigrants Contribute to the Thai Economy?: Analysis of Three Methodologies
, 2016Co-Authors: Piriya Pholphirul, Jongkon KamlaiAbstract:This paper uses three methodologies to measure the economic impacts and contribution of low-skilled immigration in Thailand, namely, simulation of a macroeconomic model, a growth accounting method, and an econometric method. Both the macroeconomic simulation model and the growth accounting method confirm that immigrants have contributed around 0.75-1 percentage point of real GDP growth. The sector that benefited most was agriculture, where immigrant workers contributed more than 1.33 percent of the growth rate of agricultural production. Our econometric results also showed that a percentage increase of immigrant share (of the total labor force or M/L) also contributed to a reduction of overall labor productivity in the manufacturing sector (by about 0.88-1percent) and the service sector (by about 1.35 percent). In addition, the calculation of the Allen Partial Elasticity (AES) confirms that there is a high substitution effect between immigrants and natives, especially in the low-skilled sector. Our simulation shows that employing immigrants in the agricultural sector tends to reduce total employment by 0.67 percent and reduce wage rates by around 4.34 percent from the base case. Thailand needs to consider the short-term and long-term implications of bringing in immigrant labor. at PENNSYLVANIA STATE UNIV on May 17, 2016amj.sagepub.comDownloaded fro
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How Much Do Low-Skilled Immigrants Contribute to the Thai Economy?: Analysis of Three Methodologies
Asian and Pacific Migration Journal, 2014Co-Authors: Piriya Pholphirul, Jongkon KamlaiAbstract:This paper uses three methodologies to measure the economic impacts and contribution of low-skilled immigration in Thailand, namely, simulation of a macroeconomic model, a growth accounting method, and an econometric method. Both the macroeconomic simulation model and the growth accounting method confirm that immigrants have contributed around 0.75–1 percentage point of real GDP growth. The sector that benefited most was agriculture, where immigrant workers contributed more than 1.33 percent of the growth rate of agricultural production. Our econometric results also showed that a percentage increase of immigrant share (of the total labor force or M/L) also contributed to a reduction of overall labor productivity in the manufacturing sector (by about 0.88–1percent) and the service sector (by about 1.35 percent). In addition, the calculation of the Allen Partial Elasticity (AES) confirms that there is a high substitution effect between immigrants and natives, especially in the low-skilled sector. Our simula…
Piriya Pholphirul – One of the best experts on this subject based on the ideXlab platform.
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How Much Do Low-skilled Immigrants Contribute to the Thai Economy?: Analysis of Three Methodologies
, 2016Co-Authors: Piriya Pholphirul, Jongkon KamlaiAbstract:This paper uses three methodologies to measure the economic impacts and contribution of low-skilled immigration in Thailand, namely, simulation of a macroeconomic model, a growth accounting method, and an econometric method. Both the macroeconomic simulation model and the growth accounting method confirm that immigrants have contributed around 0.75-1 percentage point of real GDP growth. The sector that benefited most was agriculture, where immigrant workers contributed more than 1.33 percent of the growth rate of agricultural production. Our econometric results also showed that a percentage increase of immigrant share (of the total labor force or M/L) also contributed to a reduction of overall labor productivity in the manufacturing sector (by about 0.88-1percent) and the service sector (by about 1.35 percent). In addition, the calculation of the Allen Partial Elasticity (AES) confirms that there is a high substitution effect between immigrants and natives, especially in the low-skilled sector. Our simulation shows that employing immigrants in the agricultural sector tends to reduce total employment by 0.67 percent and reduce wage rates by around 4.34 percent from the base case. Thailand needs to consider the short-term and long-term implications of bringing in immigrant labor. at PENNSYLVANIA STATE UNIV on May 17, 2016amj.sagepub.comDownloaded fro
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How Much Do Low-Skilled Immigrants Contribute to the Thai Economy?: Analysis of Three Methodologies
Asian and Pacific Migration Journal, 2014Co-Authors: Piriya Pholphirul, Jongkon KamlaiAbstract:This paper uses three methodologies to measure the economic impacts and contribution of low-skilled immigration in Thailand, namely, simulation of a macroeconomic model, a growth accounting method, and an econometric method. Both the macroeconomic simulation model and the growth accounting method confirm that immigrants have contributed around 0.75–1 percentage point of real GDP growth. The sector that benefited most was agriculture, where immigrant workers contributed more than 1.33 percent of the growth rate of agricultural production. Our econometric results also showed that a percentage increase of immigrant share (of the total labor force or M/L) also contributed to a reduction of overall labor productivity in the manufacturing sector (by about 0.88–1percent) and the service sector (by about 1.35 percent). In addition, the calculation of the Allen Partial Elasticity (AES) confirms that there is a high substitution effect between immigrants and natives, especially in the low-skilled sector. Our simula…
Yoshiaki Nakada – One of the best experts on this subject based on the ideXlab platform.
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Comment on Suzuki’s rebuttal of Batra and Casas
arXiv: Economics, 2017Co-Authors: Yoshiaki NakadaAbstract:Batra and Casas (1976) claimed that ‘a strong Rybczynski result’ arises in the three-factor two-good general equilibrium trade model. In subsequent comments, Suzuki (1983) contended that this could not be the case. Among his comments, Suzuki found that the set of three equations holds for the Allen–Partial Elasticity of substitution under the assumption of perfect complementarity, and he applied these to his analysis. In the following, I demonstrate that these are impossible, hence his dissenting proof is not plausible.
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Comment on Suzuki’s rebuttal of Batra and Casas
, 2015Co-Authors: Yoshiaki NakadaAbstract:Batra and Casas (1976) claimed that ‘a strong Rybczynski result’ arises in the three-factor two-good general equilibrium trade model. In subsequent comments, Suzuki (1983) contended that this could not be the case. Among his comments, Suzuki found that the set of three equations holds for the Allen–Partial Elasticity of substitution under the assumption of perfect complementarity, and he applied these to his analysis. In the following, I demonstrate that these are impossible, hence his dissenting proof is not plausible.
Potter-witter Karen – One of the best experts on this subject based on the ideXlab platform.
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FACTOR DEMAND IN THE SAWMILL INDUSTRY OF THE LAKE STATES
, 1Co-Authors: Mcqueen, James R.g., Potter-witter KarenAbstract:This study examined the production structure of the sawmilling industry of the Lake States (Michigan, Minnesota and Wisconsin) in order to determine elasticities of substitution and elasticities of demand. A homogeneous translog cost function was estimated using pooled time-series data for the period 1963-1996 with inputs labor, materials and capital. Based on the model seleselection process, the estimated model imposes constant returns to scale and allows for nonunitary elasticities of substitution amongst the inputs. The hypothesis of constant returns to scale could not be rejected at the 1% level. This was common for studies of the sawmill industry but seems particularly common to regions where the industry was made up primarily of small mills. Constant returns to scale in a mature sawmill industry would lead to the outcome of mills of similar size as all economies of scale have been exhausted and the industry has settled into an equilibrium firm size near the minimum of the long run average cost curve. Nevertheless, this does not explain why the average mill size in the Lake States is small compared to the Pacific Northwest and Southeastern U.S. Results for the Allen Partial Elasticity of Substitution (AES) indicate that labor and materials were inelastic substitutes with an Elasticity of 0.76 while labor and capital were elastic complements with an Elasticity of -1.38. Materials and capital were also inelastic substitutes and had an Elasticity of substitution of 0.80. The labor/materials Elasticity of substitution is high compared to almost all studies of softwood lumber producing regions. The Morishima Elasticity of Substitution (MES) results indicate that labor/materials, materials/labor, materials/capital, capital/materials and labor/capital were inelastic substitutes with the greatest substitutability between labor/materials. The MES for capital/labor was -0.017 indicating a complementary relationship. The own-price elasticities of demand were all inelastic and negative indicating downward sloping demand curves. All other elasticities were inelastic and indicate that materials was a substitute for labor and capital but labor and capital were complements. Changes in the price of materials had a relatively large, but inelastic, effect on the demand for capital with a cross-price Elasticity of 0.51. Changes in the price of labor also had a relatively large effect on the demand for capital, but in a complementary fashion, with an Elasticity of -0.44. Changes in the price of materials had a greater effect on the demand for labor than the other way around with cross-price elasticities of 0.48 and 0.24, respectively.Agribusiness,
Karen Potter-witter – One of the best experts on this subject based on the ideXlab platform.
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FACTOR DEMAND IN THE SAWMILL INDUSTRY OF THE LAKE STATES
, 2004Co-Authors: James R.g. Mcqueen, Karen Potter-witterAbstract:This study examined the production structure of the sawmilling industry of the Lake States (Michigan, Minnesota and Wisconsin) in order to determine elasticities of substitution and elasticities of demand. A homogeneous translog cost function was estimated using pooled time-series data for the period 1963-1996 with inputs labor, materials and capital. Based on the model seleselection process, the estimated model imposes constant returns to scale and allows for nonunitary elasticities of substitution amongst the inputs. The hypothesis of constant returns to scale could not be rejected at the 1% level. This was common for studies of the sawmill industry but seems particularly common to regions where the industry was made up primarily of small mills. Constant returns to scale in a mature sawmill industry would lead to the outcome of mills of similar size as all economies of scale have been exhausted and the industry has settled into an equilibrium firm size near the minimum of the long run average cost curve. Nevertheless, this does not explain why the average mill size in the Lake States is small compared to the Pacific Northwest and Southeastern U.S. Results for the Allen Partial Elasticity of Substitution (AES) indicate that labor and materials were inelastic substitutes with an Elasticity of 0.76 while labor and capital were elastic complements with an Elasticity of -1.38. Materials and capital were also inelastic substitutes and had an Elasticity of substitution of 0.80. The labor/materials Elasticity of substitution is high compared to almost all studies of softwood lumber producing regions. The Morishima Elasticity of Substitution (MES) results indicate that labor/materials, materials/labor, materials/capital, capital/materials and labor/capital were inelastic substitutes with the greatest substitutability between labor/materials. The MES for capital/labor was -0.017 indicating a complementary relationship. The own-price elasticities of demand were all inelastic and negative indicating downward sloping demand curves. All other elasticities were inelastic and indicate that materials was a substitute for labor and capital but labor and capital were complements. Changes in the price of materials had a relatively large, but inelastic, effect on the demand for capital with a cross-price Elasticity of 0.51. Changes in the price of labor also had a relatively large effect on the demand for capital, but in a complementary fashion, with an Elasticity of -0.44. Changes in the price of materials had a greater effect on the demand for labor than the other way around with cross-price elasticities of 0.48 and 0.24, respectively.