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The Estimation of Substitution Elasticity Between Non-renewable & Renewable Energy Sources
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Abstract: (3943 Views) |
In this paper, we estimate update and accurate price and substitution elasticities between non-renewable and renewable energy sources for the world industrial sector over the period 1990 to 2013. We use the locally flexible normalized quadratic (NQ) functional form to estimate elasticities. We find that as expected the Allen own-elasticities of substitution for the different inputs are negative. Moreover, the Morishima elasticities of substitution highlight the fact that the substitution between non-renewable and renewable energy factor has been high. We can thus conclude that policies adopted to expand use of renewable energy, have been successful.
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| Keywords: Elasticities of substitution between renewable and non-renewable energy sources, Flexible normalized quadratic (NQ) functional form |
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Full-Text [PDF 929 kb]
(1632 Downloads)
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Type of Study: Thesis(PhD.) |
Subject:
انرژي هاي تجديدپذير و تجديدناپذير
Received: 2016/05/10 | Accepted: 2017/11/23 | Published: 2018/08/2 | ePublished: 2018/08/2
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