Returns to scale in electricity generation: Replicated and revisited
David Bernstein () and
Energy Economics, 2019, vol. 82, issue C, 4-15
We replicate the findings of two influential studies on returns to scale in the United States electricity generation market. The main results are contrasted using both local-linear nonparametric regression, a technique robust to parametric functional form assumptions, as well as an updated data set. While the quantitative findings across all of the estimators deployed differ somewhat regarding the magnitude of returns to scale, we document a decrease in returns to scale within the electricity generation market from 1955 to 1996.
Keywords: System estimation; Shephard's lemma; Seemingly unrelated regression; Nonparametric; Replication (search for similar items in EconPapers)
JEL-codes: C01 C13 C14 C21 D22 Q40 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:82:y:2019:i:c:p:4-15
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