Download or read book Interaction and Substitution Between Capital Labor and Energy in the US Economy written by Cassandra C. Copeland and published by . This book was released on 2016 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimates of price substitution among capital, labor, and energy are critical to numerous policy issues. Estimating factor share equations of the translog production function requires constant returns to scale and competitive factor markets. The present estimates find mixed evidence on these assumptions starting with log linear production and parsimoniously adding interaction terms. Data cover US output from 1949 to 2013 with inputs of fixed capital assets, the labor force, and Btu energy input. Energy interaction and proves critical revealing declining productivity of overpaid labor. Underpaid capital and energy are weak substitutes if at all. Labor has the strongest own price substitution.
Download or read book Fueling the US Economy written by Julius Frieling and published by . This book was released on 2018 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the relationship between factor augmenting technical change and factor substitution through a nested CES function using capital, labor, and energy inputs. We use US aggregate data on output, factor use, and factor prices for the years 1929-2015 to show the interdependence and coevolution of the different input factors. We demonstrate the robustness of the system of equations approach for estimating such a production function. We find that the input factors are gross complements, and that in the time period considered, technical change was mostly labor saving, while the linear time trend of energy augmenting technical change was zero.
Download or read book Modeling Energy Economy Interactions written by Charles J. Hitch and published by Routledge. This book was released on 2015-06-11 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, first published in 1977, explores several different approaches to the same question; namely, how severe will be the impact on key U.S. macro-economic variables of the transition from main reliance on oil and natural gas to other sources of energy? This book will be of interest to students of economics and environmental studies.
Download or read book The Impact of Energy Price Shocks on Capital Formation and Economic Growth in a Putty clay Technology written by Charles S. Struckmeyer and published by . This book was released on 1984 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Estimation of Industry Level Capital Labor Substitution Elasticities for U S Production written by Edward J. Balistreri and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key parameter that determines the distributional impacts of a policy shift in general equilibrium simulations is the elasticity of substitution between capital and labor. Using a rich new data set by the Bureau of Economic Analysis, we estimate substitution elasticities for 28 industries and provide an indication of the long- and short-run estimates. Given the structure of most growth models, we posit that the relationship between capital and labor is likely to be close to Cobb-Douglas. Our findings lend support to the Cobb-Douglas specification as a transparent starting point in simulation analysis.
Download or read book Energy Economic Growth and Equity in the United States written by Narasimhan P. Kannan and published by Greenwood. This book was released on 1979 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on evaluations of effects of different energy policies on economic growth and economic disparity in the USA - using two simulation mathematical models, analyses energy-economic implications relating to income distribution, energy conservation and prices, investment and productivity, etc. Diagrams, flow charts, graphs, references and statistical tables.
Download or read book Capital Labor Energy Substitution in Nested CES Production Functions for China written by Keting Shen and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the CGE based policy modeling literature, especially recent literature on policy modeling for global climate change, nested CES production functions over multiple inputs have been widely used. Although lack of reliable estimates of substitution elasticities for nested structures has been acknowledged for a long time, the problem has not yet been solved satisfactorily. This is especially the situation for the Chinese case for which modeling work has global implications. This paper reports estimates of substitution elasticities for normalized nested CES aggregate production functions for China with different nested structures of input factors: capital, labor with or without human capital adjustment, and energy using data for the period 1979-2006. We adopt grid search based non-linear optimization techniques for estimation. The results show that all the substitution elasticities we estimate are positive. For the widely used (K,L)E structure, we find that the substitution elasticity between capital and labor for China is below unity. When human capital adjusted labor is used as input instead of unadjusted raw labor, estimates of substitution elasticity between capital and labor become lower. By considering the significance of estimates, our results suggest that the (E,L)K structure seems more appropriate for the Chinese economy.
Download or read book Capital Labor Substitution and Equilibrium Indeterminacy written by Jang-Ting Guo and published by . This book was released on 2008 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical evidence indicates that the elasticity of capital-labor substitution for the aggregate U.S. economy is below unity. In contrast, the existing indeterminacy literature has mostly restricted attention to a Cobb-Douglas production function which assumes a higher substitution elasticity than is implied by the data. This short paper examines the quantitative relationship between capital-labor substitution and the conditions needed for equilibrium indeterminacy (and belief-driven fluctuations) in a plausibly-calibrated, one-sector growth model. We find that capital-labor substitution has little quantitative impact on the threshold degree of increasing returns for local indeterminacy. Our results suggest that the Cobb-Douglas specification is a satisfactory approximation for local indeterminacy analysis.
Download or read book ETA MACRO written by Alan Sussmann Manne and published by . This book was released on 1977 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Survey of the Research Into Energy economy Interactions Annotated bibliography written by United States. Energy Information Administration. Macroeconomic Analysis Division and published by . This book was released on 1979 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modeling Energy Economy Interactions written by Charles J. Hitch and published by Routledge. This book was released on 2015-06-11 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, first published in 1977, explores several different approaches to the same question; namely, how severe will be the impact on key U.S. macro-economic variables of the transition from main reliance on oil and natural gas to other sources of energy? This book will be of interest to students of economics and environmental studies.
Download or read book Energy Research Abstracts written by and published by . This book was released on 1986 with total page 876 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dictionary of Ecological Economics written by Brent M. Haddad and published by Edward Elgar Publishing. This book was released on 2023-02-14 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Dictionary brings together an extensive range of definitive terms in ecological economics. Assembling contributions from distinguished scholars, it provides an intellectual map to this evolving subject ranging from the practical to the philosophical.
Download or read book Annual Report to Congress written by United States. Energy Information Administration and published by . This book was released on 1978 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Energy a Continuing Bibliography with Indexes written by and published by . This book was released on 1982 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Comparative Assessment of Five Long run Energy Projections written by Andy S. Kydes and published by . This book was released on 1980 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
