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Structural Change in Factor Substitution in Finnish Manufacturing

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  • Ilmakunnas, Pekka
  • Torma, Hannu

Abstract

The possibility of structural change in Finnish factor substitution relations between energy and nonenergy factors is analyzed. The standard generalized Leontief KLEMF cost functions is modified so that the substitution parameters related to electricity and fuel factors may shift to new levels over time. The initial point of transition is 1974, during which the first energy crises took place. Likelihood ratio tests confirm that there has indeed been a statistically significant change in energy versus nonenergy substitution. The authors' estimates imply stronger substitutability for most input pairs after the energy crisis. Copyright 1989 by The editors of the Scandinavian Journal of Economics.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 91 (1989)
Issue (Month): 4 ()
Pages: 705-21

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Handle: RePEc:bla:scandj:v:91:y:1989:i:4:p:705-21

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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Cited by:
  1. Lijesen, Mark G., 2007. "The real-time price elasticity of electricity," Energy Economics, Elsevier, vol. 29(2), pages 249-258, March.
  2. Galetovic, Alexander & Muñoz, Cristián M., 2011. "Regulated electricity retailing in Chile," Energy Policy, Elsevier, vol. 39(10), pages 6453-6465, October.
  3. repec:dgr:uvatin:2006061 is not listed on IDEAS
  4. Ruud A. de Mooij & A. Lans Bovenberg, . "Environmental Taxes, International Capital Mobility and Inefficient Tax Systems: Tax Burden vs. Tax Shifting," EPRU Working Paper Series 95-14, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  5. Kim, Jihyo & Heo, Eunnyeong, 2013. "Asymmetric substitutability between energy and capital: Evidence from the manufacturing sectors in 10 OECD countries," Energy Economics, Elsevier, vol. 40(C), pages 81-89.

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