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Identification of a Production Function with Age Limit for Production Capacities
Mathematical Models and Computer Simulations Pub Date : 2020-07-17 , DOI: 10.1134/s2070048220040134 N. N. Olenev
中文翻译:
确定具有生产能力年龄限制的生产功能
更新日期:2020-07-17
Mathematical Models and Computer Simulations Pub Date : 2020-07-17 , DOI: 10.1134/s2070048220040134 N. N. Olenev
Abstract
The microlevel dynamics of the age-limited production capacities differentiated by the moments of creation set the macrolevel production function. The microdescription is based on the hypothesis of the capacity loss at a constant rate and constant number of jobs from the moment of the creation of the production unit to its closure, when the age limit is exceeded. An analytical expression for the endogenous production function with the given maximum age of the capacities is obtained in characteristic exponential growth modes with the constant share of new capacities. A transient growth mode with varying incremental capital intensity of new capacities is considered. The production function’s parameters can be determined even with significant variations of the new capacity’s share in the total capacity, which occurred in the Russian economy. For this purpose, the initial microeconomic model of the production capacity’s dynamics is used in the numerical calculations of the production function. The parameters are estimated indirectly based on a comparison of the results of the calculations by the model with the statistical data over 1970–2017. The obtained value of the average age limit of capacities A = 25 for the Russian economy explains the vanishing of cost inflation in 2017. The identification of the endogenous production function parameters also show that the value of the average incremental capital intensity for the entire Russian economy decreased significantly from 1970 to 2017. The decrease is explained by the increase in the share of the primary industry in the output.中文翻译:
确定具有生产能力年龄限制的生产功能