Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25787 
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dc.contributor.authorChirinko, Robert S.en
dc.contributor.authorMallick, Debdulalen
dc.date.accessioned2006-09-05-
dc.date.accessioned2009-07-28T08:12:08Z-
dc.date.available2009-07-28T08:12:08Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/25787-
dc.description.abstractNearly 75 years ago, John Hicks introduced and formalized the concept of the elasticity of substitution between capital and labour and its relation to derived demand. The resulting formula has proven very useful in understanding the derived demand for productive factors, the distribution of factor incomes, and Marshall's Four Rules. This short paper notes that a slip occurred in the original derivation, presents a modified formula, and shows that Marshall's First Rule is no longer generally valid.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1742en
dc.subject.jelD21en
dc.subject.jelD33en
dc.subject.jelJ23en
dc.subject.jelA2en
dc.subject.ddc330en
dc.titleThe elasticity of derived demand, factor substitution and product demand: corrections to Hicks' formula and Marshall's four rules-
dc.typeWorking Paperen
dc.identifier.ppn517001640en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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