1 the ability of something, such as the number of products sold, to change in relation to something else, such as the product's price: --
Since we have price and income in logarithmic values, the relevant elasticities are equal to the estimate.
As employment elasticities of output decline, employment creation slows down.
Moreover, the difference in income elasticities is not necessary for our results, merely amplifying the incentives of the rich region.
Second, countries with different elasticities of substitution or union bargaining power may have considerably different stability properties of the equilibrium.
The parameters and denote the inverse of the consumption and labour supply elasticities.
The own-price elasticities are all negative, as predicted by the theory.
Calculated cost shares in the base year 1992 form the elasticities in the production functions.
Simultaneously, results from a conventional travel cost model reveal low elasticities with respect to costs incurred by visitors.
