Theoretical and Applied Economics
No. 2 / 2007 (507)
Elasticity of Substitution for Production Functions in Romania and other Countries
Membru corespondent al Academiei Romane
Zizi Goschin
Academia de Studii Economice Bucuresti
Abstract. The production function is explaining the mechanism through which inputs are changed into outputs and the partial efficiency of labour and capital. It also allows for understanding the elasticity of substitution, which measures the percentage change in factor proportions due to a percentage change in the marginal rate of technical substitution. In this study we have applied the two factor Constant Elasticity of Substitution (CES) production function, which is considered to be the generalised form of the Cobb-Douglas function. Using the available statistical data regarding Romania's economy in 1990-1005 period, we have performed time-series and cross-section analysis based on the aggregated production functions at national level.
Contents
Elasticity of Substitution for Production Functions in Romania and other Countries
The Development of a Multisource and a Systematized Database for Economic and Policy Impact Analysis
Leadership, Motivation and Excellence (A Comparative view)
Labor Relations and Social Dialogue: Measurement and Diagnosis Instruments
Management Science Education, between McDonaldisation of Society and High Quality Economics
Performant Brand Management Contribution to the Company Success on International Market
Statistical Methods for Base Inflation Calculation
Professional Competence in Psychosociology Research
VaR Methodology Application for Banking Currency Portfolios
Development Economics and Economic Development: Why do Institution Matter?
Evaluation of Results from Sales Promotion Activities
Currency Evolutions during 2006 and Expectations for 2007