Substitution and price elasticity estimates using inter-countrypooled data in a translog cost model

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Pooled data across several developing countries and the U.S. were used to estimate long-run substitution and price elasticities ina translog framework for the paper, iron and steel, and aggregatemanufacturing industries. While the quality of the estimates variesacross the several industry-specific models, the results suggest highervalues for these elasticities than appear commonly used in integratedassessment models. Estimates of own-price elasticities of energy rangefrom - 0.80 to - 1.76 and are comparable to estimates from previouseconometric studies in the context of developed countries (- 0.77 to -0.87). Substitution elasticities show wider variation across countriesand industries. For energy and capital they range from ... continued below

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Roy, Joyashree; Sanstad, Alan H.; Sathaye, Jayant A. & Khaddaria,Raman June 1, 2006.

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Pooled data across several developing countries and the U.S. were used to estimate long-run substitution and price elasticities ina translog framework for the paper, iron and steel, and aggregatemanufacturing industries. While the quality of the estimates variesacross the several industry-specific models, the results suggest highervalues for these elasticities than appear commonly used in integratedassessment models. Estimates of own-price elasticities of energy rangefrom - 0.80 to - 1.76 and are comparable to estimates from previouseconometric studies in the context of developed countries (- 0.77 to -0.87). Substitution elasticities show wider variation across countriesand industries. For energy and capital they range from -1.96 to 9.80, forlabor and energy from 2.61 to 7.11, and for energy and material from -0.26 to 2.07.

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  • Report No.: LBNL--55306
  • Grant Number: DE-AC02-05CH11231
  • DOI: 10.2172/918551 | External Link
  • Office of Scientific & Technical Information Report Number: 918551
  • Archival Resource Key: ark:/67531/metadc891206

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

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  • June 1, 2006

Added to The UNT Digital Library

  • Sept. 22, 2016, 2:13 a.m.

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  • Dec. 2, 2016, 1:07 p.m.

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Roy, Joyashree; Sanstad, Alan H.; Sathaye, Jayant A. & Khaddaria,Raman. Substitution and price elasticity estimates using inter-countrypooled data in a translog cost model, report, June 1, 2006; Berkeley, California. (digital.library.unt.edu/ark:/67531/metadc891206/: accessed November 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.