| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Production Functions for Climate Policy Modeling: An Empirical Analysis |
| Edwin van der Werf
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| 发表日期 | 2007
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| 出处 | Climate Change and Sustainable Development
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| 出版年 | 2007
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| 语种 | 英语
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| 摘要 | Quantitative models for climate policy modeling differ in the production structure used and in the sizes of the elasticities of substitution. The empirical foundation for both is generally lacking. This paper estimates the parameters of two-level CES production functions with capital, labour and energy as inputs, and is the first to systematically compare all nesting structures. Using industry-level data from 12 OECD countries, we find that the nesting structure where capital and labour are combined first, fits the data best, but for most countries and industries we cannot reject that all three inputs can be put into one single nest. These two nesting structures are used by most climate models. However, while several climate policy models use a Cobb-Douglas function for (part of the) production function, we reject elasticities equal to one, in favour of considerably smaller values. Finally we find evidence for factor-specific technological change. With lower elasticities and with factor-specific technological change, some climate policy models may find a bigger effect of endogenous technological change on mitigating the costs of climate policy. |
| 特色分类 | O13,Q32,Q43,Q55
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| 关键词 | Climate Policy,Input Substitution,Technological Change
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/production-functions-for-climate-policy-modeling-an-empirical-analysis/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117465
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推荐引用方式
GB/T 7714 |
Edwin van der Werf. Production Functions for Climate Policy Modeling: An Empirical Analysis. 2007.
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文件名：
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NDL2007-047.pdf
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格式：
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Adobe PDF
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