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CAPITAL–LABOUR SUBSTITUTION IN UK ARMED FORCES.
- Source :
-
Defence & Peace Economics . Apr2006, Vol. 17 Issue 2, p141-153. 13p. 4 Charts. - Publication Year :
- 2006
-
Abstract
- This paper estimates the elasticity of substitution ( s ) between military personnel and other military inputs, building on a study by Ridge and Smith published in 1991. The major difference is that this paper uses data on the average military wage, which Ridge and Smith did not, allowing a much more flexible specification of both the demand and supply equations. Accounting for a structural break at the end of the Cold War, it finds s likely to be some small positive number, much lower than previous estimates suggest. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 10242694
- Volume :
- 17
- Issue :
- 2
- Database :
- Academic Search Index
- Journal :
- Defence & Peace Economics
- Publication Type :
- Academic Journal
- Accession number :
- 20350166
- Full Text :
- https://doi.org/10.1080/10242690500512236