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Title: |
Factor Price Shocks, Factor Substitution and
Their Implications for Policy |
| Author: |
Mahmood, Zafar |
| Author
Affiliation: |
Pakistan
Institute of Development Econ |
| Source: |
International Economic Journal, Winter 1992, v. 6, no. 4, pp. 63-73 |
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Publication Date: |
Winter 1992 |
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Abstract: |
The effects of a change in the
government's pricing policy and external price shocks on factors demand
is predicted through the estimation of elasticities of factor
substitution and price elasticities of factor demand. A Translog Cost
Function is utilized to derive the estimates of these elasticities. Our
estimates of economies of scale for two sub-periods suggest that
significantly large economies of scale were available in the post-energy
shock period compared to the pre-energy shock period. |
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