住宅生產函數與要素替代彈性：CES與VES之比較

Housing Production Function and Factor Elasticity of Substitution: A Comparison between CES and VES

林祖嘉(Chu-Chia Lin)

《住宅學報》 9卷1期 (2000/02) Pp. 49-60

https://doi.org/10.6375/JHS.200002.0049

摘要

在住宅生產過程中，土地投入與資金投入是兩項最主要的生產要素；尤其在人口密集與土地昂貴的地區，土地的使用更是寸土寸金，因此，土地與資金的替代性就更形重要。所以，估計土地與資金投入的替代彈性大小一直都是一個重要的課題。為正確的找到適當的住宅生產函數，以及其中對應的土地與資本之間的替代彈性，本文分別對傳統的固定替代彈性模型(CES)與可變替代彈性模型(VES)加以估計。結果我們發現住宅生產的替代彈性在不同地區與不同的年度之間有相當大的變化，因此可變替代彈性模型該是比較適當的。至於造成不同地區與不同年度下，土地與資金投入替代彈性有所變化的主因，一方面在於不同地區的容積率與建蔽率不同，另一方面則是在不同年度下土地價格不同，因此建商選擇土地與資金的最適比例也會有所不同。

關鍵字

住宅生產函數 ； 固定替代彈性 ； 可變替代彈性

並列摘要

In housing production, land input and capital input are the two most important factors. The substitutibility between land and capital is even more crucial for a place with a high population density and with a high land price. In order to estimate an appropriate housing production function and to estimate related elasticity of substitution between land and capital, we estimate two traditional production functions, namely constant elasticity of substitution (CES) and variable elasticity of substitution (VES), by applying a firm-level data set in Taiwan from 1981 to 1992. We found that the elasticities of substitution between land and capital in housing production in Taiwan vary among different areas and among different years. Therefore, we conclude that VES is more appropriate in describing housing production behavior in Taiwan.

並列關鍵字

housing production function ； constant elasticity of substitution ； variable elasticity of substitution

參考文獻

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