时变弹性生产函数模型统计学与经济学检验

Statistical and Economic Tests for the Time-varying Elasticity Production Function Model

本文给出时变弹性生产函数的半参数变系数Profile估计方法,提出利用统计学和经济学原理检验时变弹性生产函数显著性和准确性的新思路。实证研究发现,广义似然比统计检验无法拒绝Cobb-Douglas生产函数,但是经济学检验拒绝Cobb-Douglas生产函数。时变弹性生产函数保留了Cobb-Douglas生产函数结构形式,具有明确的经济学意义,改进不变产出弹性中性技术进步假设,是更加符合实际的生产函数模型。

Despite the advantages of simple structure,definite interpretation and easy estimation,The Cobb-Douglas production function is suffering from the unreasonable neutral assumption of the constant output elasticity.Applying profile least square method to estimate the semi-parametric varying coefficient model,this paper puts forward statistical and economic tests for the time-varying elasticity production function model.China＇s empirical results find the null hypothesis of Cobb-Douglas production function is accepted by the generalized likelihood ratio test,while it＇s rejected by the economic test.The time-varying elasticity production function is more suitable for its accurate economic interpretation and non-neutral assumption.