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Elasticity of substitution, technical progress and returns to scale in branches of Soviet industry: A new CES production function approach
Author(s) -
Bairam Erkin
Publication year - 1991
Publication title -
journal of applied econometrics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.878
H-Index - 99
eISSN - 1099-1255
pISSN - 0883-7252
DOI - 10.1002/jae.3950060108
Subject(s) - elasticity of substitution , production (economics) , function (biology) , substitution (logic) , returns to scale , cobb–douglas production function , elasticity (physics) , econometrics , economics , production function , mathematical economics , industrial organization , microeconomics , computer science , physics , evolutionary biology , programming language , biology , thermodynamics
This study introduces and tests a new CES production function approach using data from five major branches of the Soviet industrial sector. The estimated equations obtained suggest that the Cobb‐Douglas production function is the appropriate production function for all branches under consideration except Food Processing.