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Tasks, technology, and factor prices in the neoclassical production sector
Journal of Economics ( IF 1.6 ) Pub Date : 2020-06-20 , DOI: 10.1007/s00712-020-00705-9
Andreas Irmen

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.

中文翻译:

新古典生产部门的任务、技术和要素价格

本文介绍了新古典主义生产部门的任务。竞争企业选择利润最大化数量的特定要素任务,这些任务决定了他们的要素需求和产出供给。我们表明,要素增强技术变化对相对和绝对要素价格的影响可以分解为相反符号的生产力效应和任务需求效应。这些影响之所以出现,是因为新的基于任务的方法区分了对任务的需求和对因素的需求。这种观点为相对和绝对因素偏差的出现以及替代弹性的作用提供了新的直觉。
更新日期:2020-06-20
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