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Table 1: Experiment Results (Cobb-Douglas Utility)


This Document is Archived


07/03: Capital Intensity and Welfare: National and International Determinants

Arthur Grimes
[ Last Updated 29 August 2007 ]


Variable

Experiment (each parameter ↑ 1%)*

AN AT α β ra rb PK PT γ
YN 1.00 0.18 0.46 0.08 -0.15 -2.83 -0.18 0.18 1.00
YT 0.00 1.73 0.36 1.30 -6.11 -4.14 -0.72 0.72 -0.74
Y 0.42 1.07 0.40 0.78 -3.58 -3.58 -0.49 0.49 0.00
KN 0.00 1.18 1.00 0.55 -7.28 -9.77 -1.17 1.18 1.00
KT 0.00 1.73 0.36 2.31 -12.82 -10.98 -1.70 1.73 -0.74
K 0.00 1.50 0.63 1.57 -10.47 -10.47 -1.47 1.50 0.00
LN 0.00 -0.31 -0.49 -0.14 3.56 0.78 0.31 -0.31 1.00
LT 0.00 0.23 0.36 0.11 -2.62 -0.57 -0.23 0.23 -0.74
CN 1.00 0.18 0.46 0.08 -0.15 -2.83 -0.18 0.18 1.00
CT 0.00 1.18 0.00 0.55 -0.15 -2.83 -0.18 0.18 -1.00
C 0.50 0.68 0.23 0.32 -0.15 -2.83 -0.18 0.18 0.00
PN -0.99 1.00 -0.46 0.46 0.00 0.00 0.00 1.00 0.00
PN/PT -0.99 1.00 -0.46 0.46 0.00 0.00 0.00 0.00 0.00
W 0.00 1.50 0.00 0.69 -3.58 -3.58 -0.49 1.50 0.00
U 0.50 0.68 0.23 0.32 -0.15 -2.83 -0.18 0.18 0.00

Notes:

Suffix T denotes traded; N denotes non-traded; no suffix denotes total.

Figures in the table show percentage change in the vertically listed variable.

*r experiments involve a 1 percentage point increase (from 0.07 to 0.08)

ra assumes domestic capital stock is owned wholly onshore

rb assumes domestic capital stock is owned wholly offshore; domestic agents own foreign capital


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