Intercountry translog model of energy substitution responses

Journal Article · Wed Dec 01 04:00:00 EST 1976 · Am. Econ. Rev.; (United States)

OSTI ID:7328856

Griffin, J M ^[1]; Gregory, P R

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1. Univ. of Pennsylvania, University Park

Results of earlier transcendental logarithmic (translog) production function are challenged on the basis of the limited time-series used. The same methodology is applied to a pool of international manufacturing data to test whether long-run price elasticities can be generated with intercountry samples. Both the time-series and international cross-section methods agree that there is some elasticity of substitution between energy demand and non-energy inputs and that energy forecasting should not be based on the assumption that substitutions between energy and nonenergy inputs are trivial. The international method finds, however, that capital and energy are substitutes rather than complements in the long-run and that there is a difference between short-run and long-run effects of substitution. 29 references. (DCK)

• OSTI ID: 7328856
• Journal Information: Am. Econ. Rev.; (United States), Journal Name: Am. Econ. Rev.; (United States) Vol. 66:5; ISSN AERNA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
99 GENERAL AND MISCELLANEOUS
990200 -- Mathematics & Computers
CAPITAL
ECONOMETRICS
ECONOMIC ELASTICITY
ECONOMICS
ENERGY DEMAND
ENERGY SOURCES
ENERGY SUPPLIES
FUELS
MANPOWER
MANUFACTURING
MATHEMATICAL MODELS
SOCIO-ECONOMIC FACTORS