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The Existence of Factor Substitution in the Primary Aluminum Industry: A Multivariate Error-Correction Approach Using Norwegian Panel Data

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  • Lindquist, Kjersti-Gro

Abstract

This paper presents an econometric analysis of factor demands in the Norwegian primary aluminium industry using annual plant-level panel data. The translog cost function approach is applied, and a multivariate error-correction model of the cost shares of labour, raw materials and electricity is estimated. Capital is assumed to be quasi-fixed. The hypothesis of fixed input coefficients is rejected for this industry, but the estimated own-price and cross-price elasticities suggest that relative price variations have limited effect on conditional factor demands.

Suggested Citation

  • Lindquist, Kjersti-Gro, 1995. "The Existence of Factor Substitution in the Primary Aluminum Industry: A Multivariate Error-Correction Approach Using Norwegian Panel Data," Empirical Economics, Springer, vol. 20(3), pages 361-383.
  • Handle: RePEc:spr:empeco:v:20:y:1995:i:3:p:361-83
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    Cited by:

    1. Lichter, Andreas & Peichl, Andreas & Siegloch, Sebastian, 2015. "The own-wage elasticity of labor demand: A meta-regression analysis," European Economic Review, Elsevier, vol. 80(C), pages 94-119.
    2. Jacobi, Lena & Schaffner, Sandra, 2008. "Does Marginal Employment Substitute Regular Employment? – A Heterogeneous Dynamic Labor Demand Approach for Germany," Ruhr Economic Papers 56, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Hofmeister, Zlatina & der Helm, Ruben van, 2017. "Estimating non-financial assets by institutional sector for the euro area," Statistics Paper Series 23, European Central Bank.
    4. repec:zbw:rwirep:0056 is not listed on IDEAS
    5. Lena Jacobi & Sandra Schaffner, 2008. "Does Marginal Employment Substitute Regular Employment? – A Heterogeneous Dynamic Labor Demand Approach for Germany," Ruhr Economic Papers 0056, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    6. Zlatina Balabanova & Ruben van der Helm, 2015. "Enhancing euro area capital stock estimates," IFC Bulletins chapters,in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39 Bank for International Settlements.

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