MODELING THE STATE OF THE ECONOMIC SYSTEM THE PRODUCTION FUNCTION OF A COMPLEX ARGUMENT
Journal Title: Вісник Університету банківської справи - Year 2018, Vol 0, Issue 2
Abstract
The article deals with theoretical and applied aspects of the economic-mathematical modeling of the production function of a complex argument for assessing the activity both individual enterprise and the economy of Ukraine. The production function is represented by a linear model with real variables, the connections between the function and variables are described with the help of complex numbers, in contrast to the classical production function of Cobb-Douglas. The number of people employed in the economy of Ukraine and the cost of fixed assets are considered as variables. The production function represents the gross domestic product. The using approach made it possible to assess the impact of resources on the production function using data for each observation, which eliminated the issue of checking data series for multicollinearity, heteroscedasticity and autocorrelation bonds. The calculation of the applying resource intensity coefficients is not used the usual averaging, which is utilized in econometrics for the classical Cobb-Douglas function. Therefore, it is possible to accurately track the change in the process from labor-intensive to capital-intensive, that is, to verify the results of the reengineering of production. Therefore, it is possible to accurately track the change in the process from labor-intensive to capital-intensive, that is, to verify the results of the reengineering of production. The study of coefficients of labor and capital utilization from 2005 to 2016 made it possible to assess the state of the Ukrainian economy as a whole. The phenomenon of crisis dynamics in 2010 — 2014 is confirmed. It characterizes an imbalance or structural restructuring of production, when one of the resources is used to a greater extent than the other, and the return on resources does not increase. Starting from 2015, Ukraine's macroeconomic indicators characterize the return to the capital-intensive process, which was inherent in the economy of the country from 2005 to 2009. It is shown that the application of the production function of a complex argument significantly expands the feasibility of carrying out an economic analysis of the processes taking place in the production.
Authors and Affiliations
Моріка Русинко, Тарас Костирко
Keywords
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