The CES-Translag Production Function, Returns to Scale and AES

Kern O Kymn and John Hisnanick

Bulletin of Economic Research, 2001, vol. 53, issue 3, 207-14

Abstract: The translog functional form imposes no a priori restrictions on the substitution possibilities between the factor inputs, by relaxing the assumption of strong separability, and the CES-translog cost function specification allows for testing homothetic technology with Hicks-neutral technical change. In this paper an n-factor CES-translog production function is presented which develops the parameters to directly assess scale effects from those due to technology in the production structure. In addition, by applying Shephard's lemma it was possible to derive the input demand functions, as well as the partial elasticities of substitution and the cross-partial price elasticities of demand for a generalized CES-translog production structure. Copyright 2001 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 2001
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