This article analyzes the constant elasticity of substitution (CES) production function when there are increasing returns to scale and the elasticity of substitution exceeds 1, which I refer to as the ...

The two-level CES aggregate production function-that nests a CES into another CES function-has recently been used extensively in theoretical and empirical applications of macroeconomics. We examine ...

In the Solow model with CES production function we can introduce purely labor-augmenting technical change and still possibly find a steady-state. (We know this because it is true with any linear ...

Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and ...