Abstract
Simulations with a CES production function show that they are extremely sensitive to the choice of parameters, especially the coefficients a and b in the production function. Simulations are also extremely sensitive to the choice of the value of β, given the same values for all other parameters, and given the same starting values for the state variables.
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© 2008 Springer-Verlag Berlin Heidelberg
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(2008). Stationary Population: CES Simulations. In: Experimenting with Dynamic Macromodels. Lecture Notes in Economics and Mathematical Systems, vol 608. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77397-9_8
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DOI: https://doi.org/10.1007/978-3-540-77397-9_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-77396-2
Online ISBN: 978-3-540-77397-9
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