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Biased Technical Change, Scale, and Factor Substitution in American Industry, 1850-1919
Louis P. Cain and Donald G. Paterson
The Journal of Economic History
Vol. 46, No. 1 (Mar., 1986), pp. 153-164
Stable URL: http://www.jstor.org/stable/2121271
Page Count: 12
You can always find the topics here!Topics: Economies of scale, Economic capital, Manufacturing industries, Human capital, Factor prices, Null hypothesis, Industry, Diseconomies of scale, Cost functions, Cost estimates
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Biased technical change, scale economies, and factor substitution were part of U.S. manufacturing's technical response to factor price movements during the period 1850 to 1919. In this article we employ the cost dual of a Generalized Leontief production function to test directly for the presence of these three effects for nineteen two-digit manufacturing sectors. Biased technical change is found in all but one sector; scale economies in all but two; factor substitutability, in all but five. Estimates of scale and bias effects for labor, capital, and materials are presented by sector, and the results are compared with other recent work.
The Journal of Economic History © 1986 Economic History Association