Application of a New Superposition CES Production Function Model

Cheng Maolin and Han Yun
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Han Yun: School of Business, Suzhou University of Science and Technology, Suzhou, 215009, China

Journal of Systems Science and Information, 2017, vol. 5, issue 5, 462-472

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.

Keywords: production function; economic growth; particle swarm optimization; contribution rate of factor (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:5:y:2017:i:5:p:462-472:n:6

DOI: 10.21078/JSSI-2017-462-11

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