The role of energy in production functions for southern European economies

Bobby E. Apostolakis

Energy, 1987, vol. 12, issue 7, 531-541

Abstract: Using 32-yr data for five southern European economies, we investigate the role of energy in their production function. Based on input-output and other econometric tests, we conclude that by incorporating energy in the production function as a factor-input, specification errors are avoided. We find energy and capital to be substitutes with each other. The use of flexible translog specification allows the derivation of elasticity estimates in a two-output, three-input framework and fits the data well.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:12:y:1987:i:7:p:531-541

DOI: 10.1016/0360-5442(87)90094-6

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