{"id":1728,"date":"2023-11-27T12:05:38","date_gmt":"2023-11-27T09:05:38","guid":{"rendered":"https:\/\/nor-ijournal.com\/?p=1728"},"modified":"2023-12-06T17:50:05","modified_gmt":"2023-12-06T14:50:05","slug":"121-5","status":"publish","type":"post","link":"https:\/\/nor-ijournal.com\/ru\/2023\/11\/27\/121-5\/","title":{"rendered":"Prasad VSN Tallapragada &#8211; EVALUATING CAPITAL ALLOCATION WITH FACTOR SHARE ALTERING ELASTICITY OF SUBSTITUTION"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"1728\" class=\"elementor elementor-1728\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\">\n\t\t\t\t<div class=\"has_eae_slider elementor-element elementor-element-174423c e-flex e-con-boxed jltma-glass-effect-no wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-column-slider-no wpr-equal-height-no e-con e-parent\" data-eae-slider=\"55582\" data-id=\"174423c\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"has_eae_slider elementor-element elementor-element-e289846 e-con-full e-flex jltma-glass-effect-no wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-column-slider-no wpr-equal-height-no e-con e-child\" data-eae-slider=\"34078\" data-id=\"e289846\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b5a0a35 jltma-glass-effect-no exad-sticky-section-no exad-glass-effect-no elementor-widget elementor-widget-heading\" data-id=\"b5a0a35\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">EVALUATING CAPITAL ALLOCATION WITH FACTOR SHARE ALTERING ELASTICITY OF SUBSTITUTION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-863f119 jltma-glass-effect-no exad-sticky-section-no exad-glass-effect-no elementor-widget elementor-widget-text-editor\" data-id=\"863f119\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: right;\"><strong>Prasad VSN Tallapragada<br \/><\/strong><em>Indian Institute of Technology Delhi<\/em><\/p><p><strong>Abstract<br \/><\/strong>Allocation of capital, being a finite resource, needs to adopt a well calibrated approach to ensure that the targeted economic priorities are achieved in an optimal manner. Factor shares of income reflect the potential economic priorities more sharply than the overall output and the underlying technical change determines this given the incident elasticity of substitution. Increase in capital\u2019s share of income- with capital augmenting technical change &#8211; would increase capital productivity, but would lead to job less growth. Increase in labour\u2019s share &#8211; with labour augmenting technical change would lead to increased wages while increasing production costs fettering the competitiveness of the economy. Hence, capital allocation has to be nuanced to support the desired factor\u2019s share in income and the underlying technical change. In the face of technical change that is not conducive for the economic objective sought &#8211; such as increasing capital growth or increasing wages- policy changes may have to accompany calibrated capital allocation.\u00a0\u00a0\u00a0\u00a0<\/p><p><strong>Key<\/strong><strong>w<\/strong><strong>ords<\/strong><strong>:<\/strong> Technical change, Elasticity of Substitution, Factor shares of Income<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-206ce67 jltma-glass-effect-no exad-sticky-section-no exad-glass-effect-no elementor-widget elementor-widget-pdfjs_viewer\" data-id=\"206ce67\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdfjs_viewer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe 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xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"-.3 0 32 32\" version=\"1.1\" width=\"100%\" height=\"100%\" style=\"display:block;border-radius:999px;\" xml:space=\"preserve\"><g><path fill=\"#fff\" d=\"M18 14V8h-4v6H8v4h6v6h4v-6h6v-4h-6z\" fill-rule=\"evenodd\"><\/path><\/g><\/svg><\/span><\/a><\/div><div class=\"heateorSssClear\"><\/div><\/div><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>EVALUATING CAPITAL ALLOCATION WITH FACTOR SHARE ALTERING ELASTICITY OF SUBSTITUTION Prasad VSN TallapragadaIndian Institute of Technology Delhi AbstractAllocation of capital, being a finite resource, needs to adopt a well calibrated approach to ensure that the targeted economic priorities are achieved in an optimal manner. Factor shares of income reflect the potential economic priorities more sharply than the overall output and the underlying technical change determines this given the incident elasticity of substitution. Increase in capital\u2019s share of income- with capital augmenting technical change &#8211; would increase capital productivity, but would lead to job less growth. Increase in labour\u2019s share &#8211; with labour augmenting technical change would lead to increased wages while increasing production costs fettering the competitiveness of the economy. Hence, capital allocation has to be nuanced to support the desired factor\u2019s share in income and the underlying technical change. In the face of technical change that is not conducive for the economic objective sought &#8211; such as increasing capital growth or increasing wages- policy changes may have to accompany calibrated capital allocation.\u00a0\u00a0\u00a0\u00a0 Keywords: Technical change, Elasticity of Substitution, Factor shares of Income Download article Download certificate Download full issue https:\/\/doi.org\/10.5281\/zenodo.10246519 https:\/\/scholar.google.com\/citations?view_op=view_citation&#038;hl=ru&#038;user=8HVJjYUAAAAJ&#038;sortby=pubdate&#038;authuser=3&#038;citation_for_view=8HVJjYUAAAAJ:UBSsHvkqiq4C<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[31],"class_list":["post-1728","post","type-post","status-publish","format-standard","hentry","category-51","tag-ecos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prasad VSN Tallapragada - EVALUATING CAPITAL ALLOCATION WITH FACTOR SHARE ALTERING ELASTICITY OF SUBSTITUTION<\/title>\n<meta name=\"description\" content=\"Allocation of capital, being a finite resource, needs to adopt a well calibrated approach to ensure that the targeted economic priorities are achieved in an optimal manner. Factor shares of income reflect the potential economic priorities more sharply than the overall output and the underlying technical change determines this given the incident elasticity of substitution. Increase in capital\u2019s share of income- with capital augmenting technical change - would increase capital productivity, but would lead to job less growth. Increase in labour\u2019s share - with labour augmenting technical change would lead to increased wages while increasing production costs fettering the competitiveness of the economy. Hence, capital allocation has to be nuanced to support the desired factor\u2019s share in income and the underlying technical change. In the face of technical change that is not conducive for the economic objective sought - such as increasing capital growth or increasing wages- policy changes may have to accompany calibrated capital allocation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nor-ijournal.com\/ru\/2023\/11\/27\/121-5\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prasad VSN Tallapragada - EVALUATING CAPITAL ALLOCATION WITH FACTOR SHARE ALTERING ELASTICITY OF SUBSTITUTION\" \/>\n<meta property=\"og:description\" content=\"Allocation of capital, being a finite resource, needs to adopt a well calibrated approach to ensure that the targeted economic priorities are achieved in an optimal manner. 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