Application of a New Superposition CES Production Function Model

2017 ◽  
Vol 5 (5) ◽  
pp. 462-472
Author(s):  
Maolin Cheng ◽  
Yun Han

Abstract In the analysis on economic growth factors, calculating the contribution rate of influencing factor to economic growth using the CES production function model is a common and important research field. The CES production function model has a variety of forms, and the superposition CES production function model proposed in the paper is a new model. With regard to the model’s parameter estimation, the paper proposes a modified particle swarm optimization which has a fast convergence rate and a high precision. With regard to the calculation of factor contribution rate, the paper offers a new scientific calculation method with the superposition CES production function model. At last, the paper makes an empirical analysis on the contribution rate of Chinese economic growth factors and the result obtained consists with the reality.

2016 ◽  
Vol 4 (3) ◽  
pp. 269-279
Author(s):  
Maolin Cheng

AbstractThe constant elasticity of substitution production function describes the relationship between production results and production factors in the technological production process. The common production factors include capital and labor. In order to comprehensively reflect the input-output relationship, this paper generalizes the model and adds factors including energy, consumption, and import and export. With respect to estimating the parameters of the model, the paper proposes a high-precision and high-speed nonlinear regression method. The constant elasticity of substitution production function model is mainly used to calculate the contribution rates of economic growth factors, and this paper proposes a scientific and reliable calculating method. The final section of the paper proposes an empirical analysis of the contribution rates of Chinese economic growth factors.


Complexity ◽  
2019 ◽  
Vol 2019 ◽  
pp. 1-8 ◽  
Author(s):  
Maolin Cheng

In analyses of economic growth factors, people generally use the CES (Constant Elasticity of Substitution) production function model to calculate the contribution rates of the factors that influence economic growth. However, the traditional CES function model that is built directly from economic data often shows apparent errors in parameter estimation due to data fluctuations. Such a model also may cause a negative calculation of the contribution rates of economic growth factors, or it may create abnormal fluctuations for some periods, and thus it fails to meet economic growth laws. In this paper, we propose a grey CES production function that can eliminate the random fluctuations of data and make the estimated parameters more reasonable, and this model can reflect the relationship between inputs and outputs more accurately. With regard to model application, the paper puts forward a scientific calculation method to avoid the calculation deviations caused by the substitution of difference equation for a differential equation with Solow’s formula. With the grey two-level nested CES production function model and the calculation method proposed, the paper makes an empirical analysis of the contribution rates of factors that influence China’s economic growth.


2019 ◽  
Vol 7 (2) ◽  
pp. 161-172 ◽  
Author(s):  
Maolin Cheng ◽  
Guojun Shi ◽  
Yun Han

Abstract In the analysis of economic growth factors, the constant elasticity of substitution (CES) production function model is used to calculate the contribution rates of influencing factors to economic growth. However, the traditional CES production function model fails to consider the staged characteristics of economic growth. Therefore, this study provides a modified model of the CES production function. With regard to its application, a new method for calculating the contribution rates of energy and other influencing factors to economic growth is proposed using a modified CES production function model. This work concludes by calculating the contribution rates of Chinese energy and other influencing factors to economic growth.


Author(s):  
Kh Uyanayeva ◽  
N Kokov ◽  
T Toguzayev ◽  
M Kuchukov ◽  
F Alibius

2017 ◽  
pp. 4-16 ◽  
Author(s):  
S.M. Afanasyev ◽  
◽  
V.V. Gassiy ◽  
I.M. Potravnyy ◽  
◽  
...  

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