Journal of Economic Theory and Econometrics: Journal of the Korean Econometric Society
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Journal of Economic Theory and Econometrics
Journal of the Korean Econometric Society

• #### Sungwhee Shin   (University of Seoul)

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