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Journal of Economic Theory and Econometrics
JETEM/계량경제학보/計量經濟學報/JKES
Journal of the Korean Econometric Society

A Canonical Constant Elasticity of Substitution (CES) Production Function

Vol.32, No.3, September , 94–102



  •   (Korea Institute of Public Finance)

  •   (University of Seoul)

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Abstract  

We propose a canonical form of the CES production function. It includes the normalized CES function as a special case. It can represent factor-augmenting technological progresses through the factor efficiency term. In general, it can represent a family of CES-type function indexed by a parameter. The parameter may represent time, nations, regions, or industries. Finally, it treats well the concern on dimensional homogeneity.


Keywords
   Constant Elasticity of Substitution, Factor-augmenting Technological Progress, Dimensional Homogeneity

JEL classification codes
   C68, D24
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