Arbeitspapier
Cointegration of output, capital, labor, and energy
Cointegration analysis is applied to the linear combinations of the time series of (the logarithms of) output, capital, labor, and energy for Germany, Japan, and the USA since 1960. The computed cointegration vectors represent the output elasticities of the aggregate energy-dependent Cobb-Douglas function. The output elasticities give the economic weights of the production factors capital, labor, and energy. We find that they are for labor much smaller and for energy much larger than the cost shares of these factors. In standard economic theory output elasticities equal cost shares. Our heterodox findings support results obtained with LINEX production functions.
- Sprache
-
Englisch
- Erschienen in
-
Series: EWI Working Paper ; No. 08,04
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Stresing, Robert
Lindenberger, Dietmar
Kümmel, Reiner
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Energy Economics at the University of Cologne (EWI)
- (wo)
-
Köln
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Stresing, Robert
- Lindenberger, Dietmar
- Kümmel, Reiner
- Institute of Energy Economics at the University of Cologne (EWI)
Entstanden
- 2008
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