The Measurement and Calculation of Elastic Coefficient in Cobb-Douglas Production Basing on the Same Kind Technology Level
In allusion to the flaw confirmed by traditional fund output elastic coefficient and labor output elastic coefficient, the article measures and calculates the labor and capital elastic coefficient in Chinese different develop stages by using Cobb-Douglas production function model and selecting different period cross section data through grey cluster theory. And studies and analyze the measurement and calculation result. The article finds that: Elastic coefficient is different under vary periods and technology levels. Labor elastic coefficient of Chinese regional economics from 1981 to 2003 becomes bigger and bigger and capital elastic coefficient becomes smaller and smaller with the improvement of technique level, but the two contend basic relationship: alpha+beta=1. The article forecasts the change of labor and capital elastic coefficient with the technique level change