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Application of a New Superposition CES Production Function Model

Author

Listed:
  • Cheng Maolin

    (School of Mathematics and Physics, Suzhou University of Science and Technology, Suzhou, 215009, China)

  • Han Yun

    (School of Business, Suzhou University of Science and Technology, Suzhou, 215009, China)

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.

Suggested Citation

  • Cheng Maolin & Han Yun, 2017. "Application of a New Superposition CES Production Function Model," Journal of Systems Science and Information, De Gruyter, vol. 5(5), pages 462-472, October.
    • Handle: 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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    References listed on IDEAS

    as
    1. Kemfert, Claudia, 1998. "Estimated substitution elasticities of a nested CES production function approach for Germany," Energy Economics, Elsevier, vol. 20(3), pages 249-264, June.
    2. K. Indira & S. Kanmani, 2015. "Association rule mining through adaptive parameter control in particle swarm optimization," Computational Statistics, Springer, vol. 30(1), pages 251-277, March.
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