Bayesian analysis of cross-prefectural production function with time varying structure in Japan

2006 ◽  
Author(s):  
Koki Kyo ◽  
Hideo Noda
Keyword(s):  
Bayesian Analysis ◽  
Production Function ◽  
Time Varying

scholarly journals Bayesian Analysis of Time-Varying Quantiles Using a Smoothing Spline

2012 ◽  
Vol 42 (1) ◽  
pp. 23-46
Author(s):  
Yuta Kurose ◽  
Yasuhiro Omori
Keyword(s):  
Bayesian Analysis ◽  
Smoothing Spline ◽  
Time Varying

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.

MEDIUM RUN REDUX

2012 ◽  
Vol 17 (4) ◽  
pp. 695-727 ◽  
Author(s):  
Peter McAdam ◽  
Alpo Willman
Keyword(s):  
Production Function ◽  
Financial Market ◽  
Euro Area ◽  
Technical Change ◽  
Time Varying ◽  
Growth Path ◽  
Balanced Growth ◽  
Directed Technical Change ◽  
Tfp Growth ◽  
Balanced Growth Path

We develop a framework for measuring and analyzing medium-run departures from balanced growth, and apply it to developments in the euro area. A time-varying factor-augmenting production function (mimicking directed technical change) with below-unitary substitution elasticity is shown to account for the observed dynamics of factor incomes shares, TFP growth, and its components. Based on careful data accounting, we also identify a rising markup and the importance of financial-market regulations in the 1970s. The balanced growth path emerges as a special (and testable) case of our framework, as do existing strands of medium-run debates.

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