Arbeitspapier
Elasticity of substitution between clean and dirty energy inputs: A macroeconomic perspective
Recently Acemolgu, Aghion, Bursztyn and Hemous (AER 2012) formulated a model in which a high macroeconomic elasticity of substitution between clean and dirty production represents a crucial condition for green growth. Until now it has never been systematically estimated. Using a novel panel of cross-country sectoral data, we formulate specifications of nested CES production functions that allow to estimate a special case of this parameter: the elasticity of substitution between clean and dirty energy inputs. Contrary to what is expected based on the earlier interfuel substitution literature, we find evidence that this elasticity exceeds one.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 13-087
- Klassifikation
-
Wirtschaft
Environment and Growth
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Government Policy
- Thema
-
clean and dirty energy inputs
aggregate elasticity of substitution
CES function
cross-country sectoral data
environmental policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Papageorgiou, Chris
Saam, Marianne
Schulte, Patrick
- Ereignis
-
Veröffentlichung
- (wer)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (wo)
-
Mannheim
- (wann)
-
2013
- Handle
- URN
-
urn:nbn:de:bsz:180-madoc-352093
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Papageorgiou, Chris
- Saam, Marianne
- Schulte, Patrick
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Entstanden
- 2013