Estimated substitution elasticities of a nested CES production function approach for Germany
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Standard
Estimated substitution elasticities of a nested CES production function approach for Germany. / Kemfert, Claudia.
in: Energy Economics, Jahrgang 20, Nr. 3, 01.06.1998, S. 249-264.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Harvard
APA
Vancouver
Bibtex
}
RIS
TY - JOUR
T1 - Estimated substitution elasticities of a nested CES production function approach for Germany
AU - Kemfert, Claudia
PY - 1998/6/1
Y1 - 1998/6/1
N2 - This paper demonstrates an econometric estimation of substitution elasticities of a nested constant elasticity of substitution production function (CES) between capital, energy and labour for the West German industry. In the last few years CES production functions have become more important in economic modelling, especially for applied general equilibrium models where CES production functions are an important building stone. In the literature, different results of estimated elasticities can be found. This paper investigates three different approaches for nested CES production functions and their estimated substitution elasticities. Capital, energy and labour are estimated as substitutes for the West German industry in the long run.
AB - This paper demonstrates an econometric estimation of substitution elasticities of a nested constant elasticity of substitution production function (CES) between capital, energy and labour for the West German industry. In the last few years CES production functions have become more important in economic modelling, especially for applied general equilibrium models where CES production functions are an important building stone. In the literature, different results of estimated elasticities can be found. This paper investigates three different approaches for nested CES production functions and their estimated substitution elasticities. Capital, energy and labour are estimated as substitutes for the West German industry in the long run.
KW - Economics
KW - substitution elasticities
KW - Estimation
KW - Germany
UR - http://www.scopus.com/inward/record.url?scp=0032101444&partnerID=8YFLogxK
U2 - 10.1016/S0140-9883(97)00014-5
DO - 10.1016/S0140-9883(97)00014-5
M3 - Journal articles
AN - SCOPUS:0032101444
VL - 20
SP - 249
EP - 264
JO - Energy Economics
JF - Energy Economics
SN - 0140-9883
IS - 3
ER -