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http://ssrn.com/abstract=2054122
 
 

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Econometric Estimation of Nested Production Functions and Testing in a Computable General Equilibrium Analysis of Economy-Wide Rebound Effects


Karen Turner


affiliation not provided to SSRN

May 7, 2012

USAEE Working Paper No. 2054122

Abstract:     
Quantitative models, such as computable general equilibrium (CGE), that are increasingly used to inform policy processes rely on a number of assumptions concerning how good and services are produced. Previous research has shown that the elasticity of substitution between inputs and the structure in which these inputs interact can have large impacts on model output. However, the choice of elasticities and production structure is often made without the support of statistical evidence. This research aims to address these points by estimating nesting structure and the elasticities of substitution therein across a number of sectors in the UK then testing the implications of introducing these estimates to parameterise a CGE model that is then used to simulation the economy-wide impacts of increased efficiency in the productive use of energy.

Number of Pages in PDF File: 26

Keywords: general equilibrium, KLEM production function, separability assumptions

JEL Classification: C68, D57, D58, R15, Q41, Q43

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Date posted: May 8, 2012  

Suggested Citation

Turner, Karen, Econometric Estimation of Nested Production Functions and Testing in a Computable General Equilibrium Analysis of Economy-Wide Rebound Effects (May 7, 2012). USAEE Working Paper No. 2054122. Available at SSRN: http://ssrn.com/abstract=2054122 or http://dx.doi.org/10.2139/ssrn.2054122

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Karen Turner (Contact Author)
affiliation not provided to SSRN ( email )
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