Hicks-neutral technical change: Difference between revisions
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* {{Cite journal | title = Hicks Neutral Technical Change Revisited: CES Production Function and Information of General Order | last = Dupuy | first = Arnaud | journal = Topics in Macroeconomics | year = 2006 | volume = 6 | issue = 2 | pages = 1339 | doi = 10.2202/1534-5998.1339 }} |
* {{Cite journal | title = Hicks Neutral Technical Change Revisited: CES Production Function and Information of General Order | last = Dupuy | first = Arnaud | journal = Topics in Macroeconomics | year = 2006 | volume = 6 | issue = 2 | pages = 1339 | doi = 10.2202/1534-5998.1339 }} |
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* {{Cite journal | title = Extended Hicks Neutral Technical Change | last = Blackorby | first = Charles | coauthors = Knox Lovell, C. A.; Thursby, Marie C. | journal = The Economic Journal | volume = 86 | issue = 344 | date = December 1976 | pages = 845–852 | doi = 10.2307/2231457 |
* {{Cite journal | title = Extended Hicks Neutral Technical Change | last = Blackorby | first = Charles | coauthors = Knox Lovell, C. A.; Thursby, Marie C. | journal = The Economic Journal | volume = 86 | issue = 344 | date = December 1976 | pages = 845–852 | doi = 10.2307/2231457 | jstor = 2231457 | publisher = Blackwell Publishing}} |
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==See also== |
==See also== |
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Revision as of 13:31, 4 December 2014
A Hicks-neutral technical change is a change in the production function of a business or industry which satisfies certain economic neutrality conditions. The concept of Hicks neutrality was first put forth in 1932 by John Hicks in his book The Theory of Wages.[1] A change is considered to be Hicks neutral if the change does not affect the balance of labor and capital in the products' production function. More formally, given the Solow model production function
- ,
a Hicks-neutral change is one which only changes .[2]
Further reading
- Hicks, John Richard (1966) [1932]. The Theory of Wages. St. Martins Press. ISBN 0-333-02764-7.
- Dupuy, Arnaud (2006). "Hicks Neutral Technical Change Revisited: CES Production Function and Information of General Order". Topics in Macroeconomics. 6 (2): 1339. doi:10.2202/1534-5998.1339.
- Blackorby, Charles (December 1976). "Extended Hicks Neutral Technical Change". The Economic Journal. 86 (344). Blackwell Publishing: 845–852. doi:10.2307/2231457. JSTOR 2231457.
{{cite journal}}: Unknown parameter|coauthors=ignored (|author=suggested) (help)
See also
References
- ^ Wood, John Cunningham (1989). Sir John R. Hicks: Critical Assessments. Routledge. p. 231. ISBN 0-415-01272-4.
{{cite book}}: Cite has empty unknown parameter:|1=(help); Unknown parameter|coauthors=ignored (|author=suggested) (help) - ^ Mike Moffatt. "Hicks-Neutral/ Hicksian Neutrality". About, Inc.
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