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dc.contributor.authorChirinko, Robert S.en_US
dc.contributor.authorMallick, Debdulalen_US
dc.date.accessioned2006-09-05en_US
dc.date.accessioned2009-07-28T08:12:08Z-
dc.date.available2009-07-28T08:12:08Z-
dc.date.issued2006en_US
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_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 1742en_US
dc.subject.jelD21en_US
dc.subject.jelD33en_US
dc.subject.jelJ23en_US
dc.subject.jelA2en_US
dc.subject.ddc330en_US
dc.titleThe elasticity of derived demand, factor substitution and product demand: corrections to Hicks' formula and Marshall's four rulesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn517001640en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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