Measurement of factor price distortion: A new production function method with time-varying elasticity

2022 ◽  
Vol 175 ◽  
pp. 121363
Author(s):  
Shangfeng Zhang ◽  
Congcong Chen ◽  
Duen-Huang Huang ◽  
Lang Hu
Keyword(s):  
Production Function ◽  
Function Method ◽  
Factor Price ◽  
Time Varying ◽  
New Production ◽  
Price Distortion

The Influence of Factor Price Distortions on Economic Structure – Based on Time-Varying Elasticity Production Function Model

2020 ◽  
Vol 24 (4) ◽  
pp. 502-508
Author(s):  
Shangfeng Zhang ◽  
◽  
Qi Fang ◽  
Huiru Ren ◽  
Chun Zhu ◽  
...  
Keyword(s):  
Production Function ◽  
Industrial Structure ◽  
Economic Structure ◽  
Factor Price ◽  
Supply Side ◽  
Time Varying ◽  
Function Model ◽  
Impact Coefficient ◽  
The Impact ◽  
Price Distortions

Based on the time-varying elasticity production function model, we calculate factor price distortions, and study their influence on the rationalization and optimization of industrial structure. We find that the impact coefficient of capital, and labor factor price distortions on the rationalization of industrial structure are −1.2087 and −0.3147 respectively. Additionally, the impact coefficients on the optimization of industrial structure are −0.2333 and −0.0718 respectively. These results demonstrate that capital and labor factor price distortions are significantly negative for the rationalization and optimization of industrial structure. Therefore, it is imperative to reduce factor price distortions, and support industrial structure upgrades to promote supply-side structural reform.

Minority Migrations and the Diffusion of Technology

1951 ◽  
Vol 11 (4) ◽  
pp. 347-360 ◽  
Author(s):  
Warren C. Scoville
Keyword(s):  
Production Function ◽  
Model Building ◽  
Semiautomatic Machine ◽  
New Production ◽  
Foreign Markets ◽  
Diffusion Of Technology ◽  
Building Activities ◽  
Innovation And Diffusion ◽  
First Time ◽  
And Diffusion

The process of technical change from the economist's viewpoint may be broken down into three phases: invention, innovation, and diffusion. Invention, or the increase in technological possibilities, is the discovery or perception of new configurations of technical processes or principles that alter the array of possible production functions. An innovation consists of using any given production function for the “first” time. Diffusion is basically imitative and involves the gradual replacement of old methods by the new. One example will suffice to illustrate these distinctions. The invention of the automatic bottle machine consisted of the conception, experimentation, and model-building activities of Michael J. Owens; the pioneering efforts of the entrepreneurs at Toledo, Ohio, to demonstrate that the new production function was both practical and economically feasible constituted the innovational phase; and the gradual replacement of hand-blown and semiautomatic machine methods by the new process in both American and foreign markets involved diffusion.

scholarly journals Mathematical model of transition of a production enterprise to a circular economy

2021 ◽  
Vol 12 (1) ◽  
pp. 144-156
Author(s):  
Leonid A. Saraev ◽  
Marina E. Тalikina
Keyword(s):  
Mathematical Model ◽  
Production Function ◽  
Circular Economy ◽  
Fixed Capital ◽  
Production Factor ◽  
New Production ◽  
Manufacturing Enterprise ◽  
First Case ◽  
Production Activity ◽  
Labor Resources

In the published article, a mathematical model of an enterprise is proposed, the production activity of which is described by two production functions. The main production function converts resources into the products of an enterprise, the additional production function turns resources into its waste, which are usually included in costs. Enterprises of a waste-free circular economy organize their own production so that the waste of an enterprise becomes new production factors and is completely converted into additional useful products. The process of transition in time of an enterprise of an ordinary economy to an enterprise of a waste-free circular economy is described using a special dimensionless transformation function, which varies from zero to one. Two variants of the peculiarities of changes in the economic indicators of an enterprise that arise during the transition to waste-free production are considered. In the first case, a one-factor manufacturing enterprise was investigated, which in its production activity uses only one resource, which integrates the volumes of factors of production consisting of fixed capital, production assets involved in the production of labor resources, used in the production of materials, applied technologies, of various kinds innovation. In the second case, a two-factor manufacturing enterprise has been investigated, which in its production activity uses two resources, the first of which is fixed capital and production assets, the second production factor includes labor resources involved in production. Regularities have been established for changes in the time of production, waste, profits and costs of an enterprise when introducing waste-free technologies for the case of one-factor production. Anumerical analysis of the obtained economic and mathematical model shows that the maximum value of the enterprise's profit changes over time and corresponds to the level of the introduced circular technologies.

Factor price distortion and ecological efficiency: the role of institutional quality

2019 ◽  
Vol 27 (5) ◽  
pp. 5293-5304 ◽  
Author(s):  
Xiangxiang Sun ◽  
Lawrence Loh ◽  
Zhangwang Chen ◽  
Xiaoliang Zhou
Keyword(s):  
Institutional Quality ◽  
Factor Price ◽  
Ecological Efficiency ◽  
Price Distortion

scholarly journals Researches about factor market distortions on the impacting factors of international technology spillover

2018 ◽  
Vol 17 ◽  
pp. 03013
Author(s):  
Xiaoyang Jia ◽  
Xiaoyu Liu ◽  
Xiaofei Liu
Keyword(s):  
Spillover Effect ◽  
Spillover Effects ◽  
Factor Price ◽  
Technology Spillovers ◽  
Technology Spillover ◽  
Price Distortion ◽  
Technology Spillover Effect ◽  
Impacting Factors ◽  
Import Trade ◽  
Statistical Yearbook

In this paper, we selected 1999-2015 Provincial Panel Data in China statistical yearbook. The effects of factor market distortions on international technology spillovers are discussed. In the factor market distorted elements of the market to promote the rapid growth of the economy in the short term, it may inhibit the international technology spillover effect, but the move is beneficial to realize the sustainability of high quality economic growth. The results showed that the technology spillover effects of the import trade, FDI and patent applications presented different feature in different stages. The article from the perspective of the development of technology breakthrough summarizes factors price distortions on the international technology spillover mechanism and study with the policy changes, elements of the market to improve dynamic changes, the factor price distortion effect of international technology spillovers stage effect.

A new production function estimate of the euro area output gap

2010 ◽  
Vol 29 (1-2) ◽  
pp. 29-53 ◽  
Author(s):  
Matthieu Lemoine ◽  
Gian Luigi Mazzi ◽  
Paola Monperrus-Veroni ◽  
Frédéric Reynes
Keyword(s):  
Production Function ◽  
Euro Area ◽  
Output Gap ◽  
New Production ◽  
Function Estimate
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