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Latest research news
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Parents should be allowed to make informed choices over infant bed-sharing, says child sleep expert
Parents should be given more information and be encouraged to make informed choices to minimise the risks of infant bed-sharing, a child sleep expert has said.
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Brain frontal lobes not sole centre of human intelligence
Human intelligence cannot be explained by the size of the brain’s frontal lobes, say researchers.
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Museum find proves exotic ‘big cat’ prowled British countryside a century ago
The rediscovery of a mystery animal in a museum’s underground storeroom proves that a non-native ‘big cat’ prowled the British countryside at the turn of the last century.
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New fracking research led by Durham University finds it is “not significant” in causing earthquakes
A new study of hundreds of thousands of hydraulic fracturing (or “fracking”) operations has found that the process has only caused earth tremors that could be felt on the surface in three cases.
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Forthcoming research seminars
Ngo Van Long (McGill University, Canada): Capital-Labor Substitution, Structural Change and Growth (with Francisco Alvarez-Cuadrado)
Abstract: There is a growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well-known Kaldor facts, with systematic changes in the relative importance of each sector, consistent with the Kuznets facts. Although variations in the income elasticity of demand across goods played an important role in the initial attempts, recent models stress the role of supply-side factors in this process of structural change.
Along these lines, Ngai and Pissarides (American Economic Review, 2008) focus in differential productivity growth across sectors while Acemoglu and Guerrieri (Journal of Political Economy, 2008) stress differences in factor proportions and capital deepening. We explore a general framework that encompasses, as special cases, these two supply-side mechanisms. Our model uncovers an additional driving force for structural change based on differences in the degree of capital-labor substitutability. When the flexibility to combine capital and labor varies across intermediate goods and the final sector is Cobb-Douglas, as the economy grows the fraction of capital (labor) allocated to the sector with high elasticity of substitution increases (decreases). We provide some casual evidence consistent with this new mechanism.
An Economics and Finance Research Seminar.
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