1. Application of a modified CES production function model based on improved PSO algorithm.
- Author
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Cheng, Maolin and Han, Yun
- Subjects
- *
TECHNOLOGICAL progress , *ECONOMIC expansion , *ALGORITHMS , *ECONOMIC impact , *PARTICLE swarm optimization , *ECONOMIC research - Abstract
• The modified CES function takes into account the stages of technological progress. • The improved PSO algorithm has fast convergence speed and high accuracy. • The method of calculating the contribution rate is scientific and reliable. • China's economic growth factor contribution rate is given. In the analysis of the economic growth factors, people often use the CES (constant elasticity of substitution) production function model to calculate the contribution rate of influencing factors to economic growth. However, the traditional CES production function model does not consider the period characteristic of technological progress on economic growth, so this paper puts forward a modified CES production function model. On the parameter estimation of the model, this paper presents an improved PSO (particle swarm optimization) algorithm with high precision and fast convergence. Using the modified CES production function model, this paper provides a scientific method to calculate the contribution rates of all factors influencing the economic growth. Finally, this paper performs the empirical analysis of the contribution rates of all factors influencing China's economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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