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| Author: | Klump, R. Preissler, H. |
| Title: | CES production functions and economic growth |
| Journal: | Scandinavian journal of economics
2000 : VOL. 102:1, p. 41-56 |
| Index terms: | ECONOMICS PRODUCTION FUNCTIONS GROWTH |
| Language: | eng |
| Abstract: | The authors examine inconsistencies and controversies related to the use of CES production functions in growth models. First, the authors show that not all variants of CES functions commonly used are consistently specified. Second, using a simple growth model, the authors find that a higher elasticity of substitution leads to a higher steady state and makes the emergence of permanent growth more probable. |
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