Estimating energy price elasticities for the non-oil manufacturing industries in Kuwait
This study dealt with the estimation of price elasticities for the non-oil manufacturing industrial energy demand for the case of Kuwait using the two-stage inter-fuel substitution approach. The estimated model has performed quite well and thus was simulated assuming a 100 per cent price shock in order to gain the short- and long-run own- and cross-price elasticities. The results suggest that a great deal of adjustment to higher prices comes from total energy demand and not from inter-fuel substitution. Copyright 2008 The Author. Journal compilation 2008 Organization of the Petroleum Exporting Countries.
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Volume (Year): 32 (2008)
Issue (Month): 2 (06)
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