Year: 2007
Type: article
Abstract: Properties of general equilibrium models with constant elasticity of substitution CES production may be underappreciated.Comparative static price elasticities are generally insensitive to the degree of CES substitution, a surprise with substitution ranging from nearly zero to nearly perfect.The influence of the degree of CES substitution is examined and properties are illustrated in an application to the United Arab Emirates.
Authors: Henry Thompson, Hugo Toledo
Language: English
Topic: Economic theories and models
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W155877481