Output, Capital, and Labor in the Short and Long Run

Posted: 25 Feb 2005

See all articles by Daniel Levy

Daniel Levy

Bar-Ilan University - Department of Economics; Emory University - Department of Economics; Rimini Center for Economic Analysis

Abstract

I provide new empirical evidence on the relative importance of capital and labor in the determination of output in the short and long run. I find that capital is far more important factor than labor in the determination of output at the zero frequency band. Also, the zero-frequency labor elasticity of output might be close to zero, or even zero. Finally, output leads capital at the zero frequency band.

Keywords: Output, capital, labor, short run, long run, frequency domain, zero frequency

JEL Classification: C32, E22, E23, O40

Suggested Citation

Levy, Daniel, Output, Capital, and Labor in the Short and Long Run. Southern Economic Journal, Vol. 60, No. 4, pp. 946-960, April 1994. Available at SSRN: https://ssrn.com/abstract=671904

Daniel Levy (Contact Author)

Bar-Ilan University - Department of Economics ( email )

Ramat-Gan, 5290002
Israel
+972 3 531-8345 (Phone)
+972 3 738-4034 (Fax)

HOME PAGE: http://econ.biu.ac.il/en/levy

Emory University - Department of Economics ( email )

1602 Fishburne Drive, Suite 306
Rich Building
Atlanta, GA 30322-0001
United States

HOME PAGE: http://economics.emory.edu/home/people/faculty/Levydaniel.html

Rimini Center for Economic Analysis ( email )

Wilfrid Laurier University
75 University Ave W.
Waterloo, Ontario N2L3C5
Canada

HOME PAGE: http://rcea.org/

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