Long-run estimates of interfuel and interfactor elasticities
Meta-analyses of interfuel and capital-energy elasticities of substitution show that elasticity estimates are dependent on the type of data − time series, panel, or cross-section − and the estimators used. Econometric theory suggests that the between estimator might gen- erate the best estimates of long-run elasticities but no existing estimates of elasticities of substitution have used it. Alternatively, Chirinko et al. argued in favor of estimating long-run elasticities of substitution using...[Show more]
|Collections||ANU Research Publications|
|Source:||Resource and Energy Economics|
|MaStern2016.pdf||2.74 MB||Adobe PDF|
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