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Appears in Collections:Economics Working Papers
Peer Review Status: Unrefereed
Title: Econometric estimation of nested production functions and testing in a computable general equilibrium analysis of economy-wide rebound effects
Author(s): Turner, Karen
Lange, Ian
Lecca, Patrizio
Ha, Soo Jung
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Citation: Turner K, Lange I, Lecca P & Ha SJ (2012) Econometric estimation of nested production functions and testing in a computable general equilibrium analysis of economy-wide rebound effects. Stirling Economics Discussion Papers, 2012-08.
Keywords: general equilibrium
KLEM production function
separability assumptions
JEL Code(s): C68: Computable General Equilibrium Models
D57: General Equilibrium and Disequilibrium: Input-Output Tables and Analysis
D58: Computable and Other Applied General Equilibrium Models
R15: General Regional Economics: Econometric and Input-Output Models; Other Models
Q41: Energy: Demand and Supply; Prices
Q43: Energy and the Macroeconomy
Issue Date: 31-May-2012
Date Deposited: 9-May-2012
Publisher: Stirling Management School
Series/Report no.: Stirling Economics Discussion Papers, 2012-08
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.
Type: Working Paper
Affiliation: Economics
University of Strathclyde
Korean Research Institute for Human Settlements

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