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Titre Demande de facteurs et productivité dans le long terme : l'apport des fonctions à capital quasi-fixe
Auteur Norbert Ladoux, Jean-Guy Devezeaux de Lavergne
Mir@bel Revue Economie et prévision
Numéro no 91, 1989/5 Etudes sectorielles
Rubrique / Thématique
Etudes sectorielles
Page 43-56
Résumé anglais Production factor demand and long-term productivity : the contribution of the quasi-fixed capital production function, by Jean-Guy Devezeaux de Lavergne, Norbert Ladoux. The fixed or quasi-fixed capital functions allow us to distinguish the short run from long run behaviour of the producer, which is not the case in the classical functions. The main contribution of this paper is the explicit calculation of the long run elasticities of substitution. As an empirical application, we estimate a translog quasi-fixed capital function for three sectors of the french economy. Our results show that it is impossible to consider, as it is sometimes done, that the elasticities computed through classical cost functions (in particular the capital-energy elasticity) are long run elasticities. In addition, we give an estimate of the utilization rate of the production capacity, as well as an estimate of the total factors productivity (which are not very different from that obtained when the capital stock is optimal). We also furnish an evaluation of productivity trends affecting each productive factor. Our results include the levels of significance of each computed variable.
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