A dynamic approach to estimating inter-fuel substitution in Japanese energy demand
National Centre for Development Studies, Australian National University, Aug 1, 1991 - Business & Economics - 35 pages
A study of the effectiveness of employing a dynamic cost function specification to improve the estimation of inter-factor substitution elasticities. Also looks at the effectiveness of energy policies pursued by the Japanese government since the oil price rises of the 1970s. TWorking Paper No 91/6' of the National Centre for Development Studies.
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87.46 Final model adjustment aggregate energy demand aggregate energy price augmented Dickey-Fuller test Australian autocorrelation Breusch-Godfrey tests cent significance level changes in relative co-integrating constraints cost function cost minimizing Critical value cross-price David Robertson demand for aggregate demand for energy dependent variables Development Studies Divisia index domestic and imported domestic coal Durbin-Watson statistic dynamic approach dynamic fuel share Dynamic model dynamic specification economic elasticities of substitution elasticity of demand elasticity of energy electricity employed energy demand equation energy demand model energy sub-model energy users F-test factors of production Frances Perkins fuel share equations fuel share model Full model given in Table government energy policies impact imported steaming coal income elasticity inter-fuel substitution model ISBN Japanese energy demand liquid natural gas Morishima elasticities Non-dynamic specification oil products own-price elasticity price index relative fuel prices Relative price share elasticities static total energy translog vector weak separability Wickens and Breusch