CAPITAL-ENERGY SUBSTITUTION AND MULTILEVEL CES PRODUCTION FUNCTION

Authors
CHANG KP
Citation
Kp. Chang, CAPITAL-ENERGY SUBSTITUTION AND MULTILEVEL CES PRODUCTION FUNCTION, Energy economics, 16(1), 1994, pp. 22-26
Citations number
23
Categorie Soggetti
Economics
Journal title
Energy economics → ACNP
ISSN journal
01409883
Volume
16
Issue
1
Year of publication
1994
Pages
22 - 26
Database
ISI
SICI code
0140-9883(1994)16:1<22:CSAMCP>2.0.ZU;2-1
Abstract
This paper has clarified a misconception in Sato's multi-level CES pro duction function, and used the function in testing for capital energy substitution in Taiwanese manufacturing. The empirical results show th at capital and energy are substitutes, and the AES estimates differ li ttle from those derived from the translog approximation.