全球智库信息集成服务系统(G2TT): Think Again: Higher Elasticity of Substitution Increases Economic Resilience

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Think Again: Higher Elasticity of Substitution Increases Economic Resilience
	P. Dumas; S. Hallegatte
发表日期	2009
出处	Economy and Society
出版年	2009
语种	英语
摘要	This paper shows that, counter-intuitively, a higher elasticity of substitution in model production function can lead to reduced economic resilience and larger vulnerability to shocks in production factor prices. This result is due to the fact that assuming a higher elasticity of substitution requires a recalibration of the production function parameters to keep the model initial state unchanged. This result has consequences for economic analysis, e.g., on the economic vulnerability to climate change.
特色分类	D24,E17,E23
关键词	Substitution,Calibration,Constant Elasticity of Substitution,Shock
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/think-again-higher-elasticity-of-substitution-increases-economic-resilience/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/117743
推荐引用方式 GB/T 7714	P. Dumas,S. Hallegatte. Think Again: Higher Elasticity of Substitution Increases Economic Resilience. 2009.