Repères sur la substitution capital-travail

Philippe Michel and Antoine d'Autume

Revue Économique, 1987, vol. 38, issue 3, 703-723

Abstract: [fre] Repères sur la substitution capital-travail. . L'article retrace tout d'abord les évolutions des productivités dans les trois branches industrielles et met en évidence l'importance quantitative du phénomène de substitution du capital au travail. Il présente ensuite quelques éléments d'analyse théorique. L'analyse est conduite successivement sur la base d'une fonction de production agrégée puis d'une fonction à générations. Elle tente d'apprécier les marges de manœuvre, à court terme et à long terme, en matière notamment d'évolution du salaire, de l'emploi et du vieillissement du capital. [eng] Notes on capital labor substitution. . At an empirical level we provide evidence of the large substitution of capital for labor which took place in France during the last 25 years and we analyze the resulting evolutions of factor productivities. At a theoretical level we use a simple model of the open sector of an economy to analyze a policy aimed at reducing the relative cost oi labor. We show that such a policy will have negative cumulative effects on the real wage only if technical progress is capital augmenting and the elasticity of substitution is larger than one.

Date: 1987
Note: DOI:10.3406/reco.1987.408995
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Working Paper: Repères sur la substitution capital-travail (1987)
Working Paper: Repères sur la substitution capital-travail (1987)
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