A Production Function with Variable Elasticity of Factor Substitution

Constantin Chilarescu

Economics Bulletin, 2019, vol. 39, issue 4, 2343-2360

Abstract: The main aim of this paper is to prove the existence of a new production function with variable elasticity of factor substitution. This production function is a more general form which includes the Cobb-Douglas production function and the CES production function as particular cases. The econometric estimates presented in the paper confirm some other results and reinforces the conclusion that the sigma is well-below the Cobb-Douglas value of one.

Keywords: variable elasticity of factor substitution; production function. (search for similar items in EconPapers)
JEL-codes: C5 C6 (search for similar items in EconPapers)
Date: 2019-10-13
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Citations: View citations in EconPapers (3)

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Working Paper: A Production Function with Variable Elasticity of Factor Substitution (2019)
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