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2 edition of Factor substitution and complementarity in energy found in the catalog.

Factor substitution and complementarity in energy

Richard Westoby

Factor substitution and complementarity in energy

a case study of the UK electricity industry

by Richard Westoby

  • 125 Want to read
  • 33 Currently reading

Published by University of Aberdeen. Department of Political Economy in Aberdeen .
Written in English


Edition Notes

Statementby Richard Westoby and Alistair McGuire.
SeriesDiscussion papers (i.e. Occasional papers) / University of Aberdeen. Department of Political Economy -- 81-15
ContributionsMcGuire, Alistair.
ID Numbers
Open LibraryOL13774653M

Read "Cost Structure, Interfactor Substitution and Complementarity, and Efficiency in the Canadian Agricultural Sector, Canadian Journal of Agricultural Economics/Revue Canadienne D'Agroeconomie" on DeepDyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips. is a chapter in the economics of factor substitution in response to a change in relative factor costs. The discussion on the following pages will be focused on the problem of evaluating the quantitative impor-tance of this substitution effect, compared with other determinants of the relative intensity of capital investment. A few remarks will be. Cigarettes and Alcohol: Substitutes or Complements? Sandra L. Decker, Amy Ellen Schwartz. NBER Working Paper No. Issued in February NBER Program(s):Health Economics Program Taxation of cigarettes and alcohol can raise revenue and reduce consumption of . Elasticity of complementarity (Hamermesh, ) is the percentage responsiveness of relative factor prices to a 1 percent change in relative inputs.. Mathematical definition. Given the production function (,) then the elasticity of complementarity is defined as = ⁡ (/) ⁡ (/) = (/) / (/) /. The inverse of elasticity of complementarity is elasticity of substitution.


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Factor substitution and complementarity in energy by Richard Westoby Download PDF EPUB FB2

Complementarity Energy-capital substitutability/ complementarity The dichotomy Bobby E. Apostolakis Changes in the price of energy affect not only the demand for energy but also the rates of capital formation and labour utilization.

These changes depend on the functional relationship between energy and the by: Resources and Energy 3 () North-Holland Publishing Company THE SUBSTITUTION OF CAPITAL, LABOR AND ENERGY IN THE ISRAELI ECONOMY Ronn I.

EHUD Stanford University, Stanford, CAUSA Arie MELNIK University of Haifa, Haifa, Israel The study explores the empirical relationships between capital, labor and energy in the Israeli by: 2. the ratio of factor prices to he percentage change in the ratio of factor prices.

The elasticity of substitution is just the negative of the elasticity of the function hwith respect to its argument w 1=w 2. That is, ˙(w 1 w 2) = w 1 w 2 h0 w 1 w h w 1 w 2 = dln w 1 w dln w 1 w 2: (12) Size: KB. which assumes unitary factor substitution elasticity.

Since the introduction of the CES production function ina multitude of extensive studies on the elasticities of substitution between production inputs have been published.

One of the latest analysis is in this regard is the work of León-Ledesma et al. (), who investigateFile Size: KB. The proposed Energy Supply-Mix model defines three objectives, including economy, security, and environment issues. Unlike the extant literature, this study considers the variability in the monthly generation of renewable and non-renewable energies to provide complementary and substitution suggestions for a specific target by: 8.

McGuire, Alistair and Westoby, R. () Factor substitution and complementarity in energy: a case study of the UK electricity industry. Applied Economics, 16 (1). ISSN Full text not available from this repository. GTAP-E: An Energy-Environmental Version of the GTAP Model Jean-Marc Burniaux and Truong P.

Truong∗ GTAP Technical Paper No. 16 Abstract Energy is an important commodity in many economic activities. Its usage affects the environment via CO2 emissions and the Greenhouse Effect.

Modeling the energy-economy-environment-trade. Factor substitution and complementarity in the Asia airport industry The results reveal that outsourcing has emerged from being a substitute for labor and a complementary factor to capital in the late s to become a substitute for both labor and capital.

McGuireFactor substitution and complementarity in energy: a case study of the Cited by: Uzawa, H.,Production functions with constant elasticities of substitution, The Review of Economics and Statist Westoby, R.

and A. McGuire,Factor substitution and complementarity in energy: A case study of the UK electricity industry, Cited by: 3. -- “Engineering and Econometric Interpretations of Energy-Capital Complementarity,”American Economic Review, 69, June Cited by: 4.

substitution and complementarity Factor substitution and complementarity in energy book the production case based on duality, gross and net substitution, elasticity type, and four different basic concepts of substitution and : David Ian Stern. After the implementation of the EICP, industrial enterprises were required to decrease energy use and increase the use of other factors for the substitution relationships between factor inputs.

Abstract. This chapter will present estimates from a translog cost function for both the aggregate economy and industrial economy using the methodologies presented in Chap.

4 and the data described in Chap. estimated elasticities include the substitution of and demand for : Hengyun Ma, Les Oxley. Elasticities of Substitution and Complementarity December David I. Stern 19/30 Watson Street, Turner, ACTAUSTRALIA E-mail: [email protected] Abstract This paper develops a classification scheme of the many different definitions of elasticities of substitution and complementarity in the production case based on duality, gross and net.

Jones and Easton () analyzed how commodity prices affect factor prices in the three-factor two-good general equilibrium trade model. These relationships determine whether ‘a strong Rybczynski result’ holds or not.

In subsectionthey found that the set of three equations holds for ‘the economy-wide substitution’ under the assumption of ‘perfect complementarity’. Downloadable. With its rapid economic growth, China's primary energy consumption has exceeded domestic energy production sinceleading to a substantial expansion in energy imports, particularly of oil.

China's energy demand has an increasingly significant impact on global energy markets. In this paper Allen partial elasticities of factor and energy substitution, and price.

Elasticity of Substitution Between Energy and Non-energy Factors Explaining from Energy Efficiency by Threshold Energy Procedia 61 () – Availab le online at www. This paper analyzes the relationship between factor substitutability and the energy intensity of manufacturing firms. Specifically, we compare the degree of substitutability between the input factors capital, labor, energy, and material for firms with low, medium, and high energy cost shares using a panel of Swiss manufacturing companies covering the period from to Cited by: 2.

The book reviews China’s energy situation and fills the missing literatures ; Brand new information on China's energy economy, world energy markets, as well as global environment and climate changes Provides the most important and newest information on China's energy economy; see more benefits.

Secondly, the book first subdivides China's energy intensity change into aspects of budget constraint, technological change, factor substitution, energy demand and economic growth using a newly. Capital-Energy Substitution and Shifts in Factor Demand: A Meta-Analysis Article in Energy Economics 30(5) September with 37 Reads How we measure 'reads'.

Abstract. We use micro data U.S. manufacturing plants to estimate the degrees of factor substitution by industry and by plant size. We find that (1) capital, labor, energy and materials are substitutes in production, and (2) the degrees of substitution among inputs are quite similar across plant sizes in a majority of by:   The rapid increase in demand for energy is attributed to expanding industrial and construction sectors.

For example, electricity consumption has grown with an annual average of almost 16%, from TWh in to 69 TWh in —seven times in size, and more than a half of the total electricity demand (FPT ).The four largest industries, paper, cement, steel, and fertilizer, together Author: Phu Viet Le.

Downloadable. As is the case with capital-energy substitution, interfuel substitutability has been of longstanding interest to the energy economics and policy community. However, no quantitative meta-analysis has yet been carried out of this literature. This paper fills this gap by analyzing a broad sample of studies of interfuel substitution in the industrial sector, manufacturing industry or.

Home > Policy Research Working Papers > Substitution In Markusen's Classic Trade And Factor Movement Complementarity Models. This controlled morphology helps attain excellent performance with a power conversion efficiency (PCE) of % and a highest fill factor of % without additives.

In addition, it can be applied to two‐terminal (2T)‐tandem solar cells, attaining an outstanding PCE of up to % with complementary absorption in the field of the 2T Author: Seung Un Ryu, Zaheer Abbas, Ara Cho, HyunKyung Lee, Chang Eun Song, Hang Ken Lee, Sang Kyu Lee, Won. Downloadable (with restrictions).

The elasticity of substitution between energy and non-energy is a key parameter in quantifying distributional impacts of energy and environmental policies. However, the empirical results of energy substitution are contradictory.

The source of discrepancies in the results remains controversial, which provides ample motivation for further interpretation. Downloadable. With its rapid economic growth, China’s primary energy consumption has exceeded domestic energy production sinceleading to a substantial expansion in energy imports, particularly of oil.

China’s energy demand has an increasingly significant impact on global energy markets. In this paper Allen partial elasticities of factor and energy substitution, and price.

Capital and energy are likely p-complements in the short-run and p-substitutes in the long-run. References Apostolakis, B. “Energy-capital substitutability / complementarity: the dichotomy.” Energy Economics Berndt, E. and D.

Wood (). “Engineering and econometric interpretations of energy-capital. The simultaneous influence of increasing oil scarcity, greenhouse gas control and renewable energy targets will result in a future of sustained energy prices.

Whether modern economies can find a smooth path away from fossil fuels is a fundamental socio-economic and political question, which according to standard economics depends to a large extent on the degree of substitution between energy Cited by: 6.

This study examines factor substitution and energy intensity in the U.S. agricultural sector. Not only does this study focus on the substitution possibilities between energy and non-energy factors, but it also attempts to identify the factors that determine energy intensity.

For the empirical analysis, a system of share equations for capital, energy and labor is estimated to calculate the Cited by: 3.

My paper Elasticities of Substitution and Complementarity has been accepted by the Journal of Productivity paper surveys the various definitions of the "elasticity of substitution" and puts them into a framework that explains their relationships and includes the new definition of Hicks Elasticity of Substitution based on the input distance function as well as.

Substitution towards energy may limit the reduction in the energy value share brought about by energy-augmenting technical change—and in some circumstances may even increase the energy value share.

Hence, in principle, it is possible for energy-augmenting technical change (τ E ≥ 0) to coexist with energy-using technical change (ψ E ≥ 0).Cited by: Downloadable (with restrictions). With its rapid economic growth, China's primary energy consumption has exceeded domestic energy production sinceleading to a substantial expansion in energy imports, particularly of oil.

China's energy demand has an increasingly significant impact on global energy markets. In this paper Allen partial elasticities of factor and energy substitution, and. The book contains a comprehensive treatment of the traditional agricultural production economics topics employing both detailed graphics and differentialcal culus.

The text focuses on the neoclassical factor-product, factor-fact or and product-product models, and is suitable. If you take "energy" as an alternative for "labor," it can then be a complementary factor of production with capital. Most factor substitution models deal with labor versus capital.

Capital is just a fixed "stock" of machinery, etc., while labor is the source of the energy that makes these machines "run.".

IZA DP No. A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs: An Application of the Morishima Elasticity of Substitution Saumik Paul The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly.

The main substitutes for oil and gas energy include nuclear power, solar power, ethanol, and wind power. Fossil fuels still dwarf these alternatives in global and domestic energy markets, but. Get this from a library. Substitution in Markusen's classic trade and factor movement complementarity models.

[Maurice Schiff] -- "Mundell and Markusen each wrote classic papers on the relationship between trade and factor movement. Mundell showed that substitution holds in the Heckscher-Ohlin model. Markusen challenged the.

An Empirical Analysis of Substitution and Complementarity of Gender Labor Demand of Enterprises in Japan, Korea, and China: With a Factor Decomposition of Gender Wage Differentials Hiromi Ishizuka.

Theoretical Economics Letters Vol.8 No, Pub. Date: J. The objective of this paper is to analyse the cost implications of several important features of the production technology in the pulp and paper industry in the member states of the European Union.

A flexible industry cost function with 3 inputs is estimated for the EU with annual panel data for the period from to Substitution and price elasticities are estimated, together with Cited by: 6.Substitution Goods.

BACK; NEXT ; Substitution goods represent another factor influencing demand. A substitution good is one that has a similar utility as another—they both satisfy a similar need. If the cost of the substitution good changes, the demand for our original good will be affected.

Substitution of Heavy Complementarity Determining Region 3 (CDR-H3) Residues Can Synergistically Enhance Functional Activity of Antibody and Its Binding Affinity to HER2 Antigen Seung Kee Moon, 1, 2, 4 So Ra Park, 1, 4 Ami Park, 1 Hyun Mi Oh, 1 Hyun Jung Shin, 1 Eun Ju Jeon, 1 Seiwhan Kim, 1 Hyun June Park, 2 Young Joo Yeon, 3 and Cited by: 2.