THE VARIABLE ELASTICITY OF SUBSTITUTION PRODUCTION FUNCTION: A CASE STUDY FOR INDIAN MANUFACTURING INDUSTRIES *

1980 ◽  
Vol 32 (1) ◽  
pp. 163-175 ◽  
Author(s):  
UMAR. A. KAZI
Keyword(s):  
Production Function ◽  
Manufacturing Industries ◽  
Elasticity Of Substitution

The use of production-function analysis in forest management: eucalypts in Brazil, a case study

1982 ◽  
Vol 12 (2) ◽  
pp. 452-458 ◽  
Author(s):  
J. C. Nautiyal ◽  
L. Couto
Keyword(s):  
Forest Management ◽  
Production Function ◽  
Infinite Number ◽  
Function Analysis ◽  
Elasticity Of Substitution ◽  
Discount Rates ◽  
Net Worth ◽  
Fitting Production ◽  
Best Fitting

Production-function analysis is applied to data from a spacing research carried out for a hybrid of Eucalyptusurophylla S.T. Blake in Brazil. A logarithmic –reciprocal equation is chosen as the best fitting production function for the present data, and its elasticities of production, elasticity of scale, and elasticity of substitution are computed. Given the production function, the set of input quantities which maximize the present net worth of an infinite number of forest cycles for a range of discount rates is presented.

scholarly journals Local and Global Dynamics in a Discrete Time Growth Model with Nonconcave Production Function

2012 ◽  
Vol 2012 ◽  
pp. 1-22 ◽  
Author(s):  
Serena Brianzoni ◽  
Cristiana Mammana ◽  
Elisabetta Michetti
Keyword(s):  
Production Function ◽  
Growth Model ◽  
Discrete Time ◽  
Production Functions ◽  
Elasticity Of Substitution ◽  
Global Dynamics ◽  
Production Factors ◽  
Local And Global Dynamics ◽  
Complex Features

We study the dynamics shown by the discrete time neoclassical one-sector growth model with differential savings while assuming a nonconcave production function. We prove that complex features exhibited are related both to the structure of the coexixting attractors and to their basins. We also show that complexity emerges if the elasticity of substitution between production factors is low enough and shareholders save more than workers, confirming the results obtained while considering concave production functions.

scholarly journals On the Substitution of Private and Public Capital in Production

2019 ◽  
Vol 19 (232) ◽  
Author(s):  
Zidong An ◽  
Alvar Kangur ◽  
Chris Papageorgiou
Keyword(s):  
Production Function ◽  
Public Capital ◽  
Physical Capital ◽  
Elasticity Of Substitution ◽  
Point Estimate ◽  
Private Capital ◽  
Public And Private ◽  
Macroeconomic Models ◽  
Private And Public ◽  
Penn World Table

Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect substitutes. In this paper we test this assumption by estimating a nested-CES production function whereas the two types of capital are considered separately along with labor as inputs. The estimation is based on our newly developed dataset on public and private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find evidence against perfect substitutability between public and private capital, especially for emerging and LIDCs, with the point estimate of the elasticity of substitution estimated closely around 3.

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