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- W1518336028 abstract "There has been an extensive study in the literature on the estimate of technological progress using an aggregative model. A typical assumption in this context is that of Hicks-neutral technological progress.' However, in theoretical models, the favorite assumption is that of Harrodneutral technological progress, which probably reflects the desire of researchers to characterize the steady state.2 Obviously, however, there should be no a priori reason why technological progress should be either Hicks neutral or Harrod neutral. There have recently been interesting studies by Robert Resek, Paul David and Th. van de Klundert, and Ryuzo Sato (1970), and others to determine the bias of technological progress.3 The purpose of this note is to propose simple formulas which can be and are subsequently used to determine and estimate the type of bias of technological progress. My estimates indicate that technological progress in the United States for the period of 1909-60 could be Solow labor-saving, and that it has been neither Hicks neutral nor Harrod neutral. The non-Hicks neutrality confirms the results of Resek, David and van de Klundert, Sato (1970), and others. However, unlike most studies on the topic, I do not assume that the production function is a priori of the f actoraugmenting type. Moreover, I do not, unlike David and van de Klundert, assume that the elasticity of factor substitution is a priori constant. In the last section, I investigate whether the elasticity of factor substitution has changed from period to period." @default.
- W1518336028 created "2016-06-24" @default.
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- W1518336028 date "1974-01-01" @default.
- W1518336028 modified "2023-09-23" @default.
- W1518336028 title "On Biased Technological Progress" @default.
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