IDENTIFICATION OF AN AGGREGATE PRODUCTION FUNCTION FOR POLISH ECONOMY
IDENTIFICATION OF AN AGGREGATE PRODUCTION FUNCTION FOR POLISH ECONOMY
Author(s): Nicholas OlenevSubject(s): National Economy
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: aggregated production function; production capacity; parameter identificatin; parallel calculations; Polish economy;
Summary/Abstract: This paper explores an aggregated production function, built on the distribution of production capacity with a limited age. Technologies are determined at the time of capacity creation. With increasing age, production capacity is decreasing, keeping the number of workplaces. The lowest labour input and the coefficient of capital intensity are reduced due to scientific and technological progress. The parameters of this production function were identified by parallel calculations according to the data of the Polish economy 1970-2017. The economic interpretation of the obtained results is given.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XIX/2018
- Issue No: 4
- Page Range: 430-439
- Page Count: 10
- Language: English
