Modelo económico de demanda de energía eléctrica en la industria colombiana

Jesus Botero, Elkin Castaño and Carlos Velez (cev818@gmail.com)

Lecturas de Economía, 1990, issue 32-33, 97-123

Abstract: This paper tries to test an economic explanation of the industrial demand for electricity in Colombia during the period 1970-1983. The estimation of the translog equations shows the complementary or substitutability between energy and other inputs in the industrial production function. After testing the complementarily between energy and capital, we estimate a model of energy demand in terms of the time series of the aggregate capital stock of industry. In order to avoid ad-hoc assumptions about the initial capital stock we use specific modeling that leaves that variable as a parameter to be estimated. On the other hand, the optimizing behavior of the entrepreneur determines the relative shares of electricity purchases and auto generation expenses in the total energy bill. This choice is represented as a cost minimization process subject to CES technological constraints. Finally, in order to improve estimator’s precision bootstrap procedures are applied.

Keywords: Demanda energía eléctrica; Colombia; modelo económico. (search for similar items in EconPapers)
Date: 1990
References: Add references at CitEc
Citations:

Downloads: (external link)
https://revistas.udea.edu.co/index.php/lecturasdeeconomia/issue/view/545 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:1990:i:32-33:p:97-123

Ordering information: This journal article can be ordered from
Lecturas de Economía, Departamento de Economía, Calle 67, 53-108, Medellin 050010, Colombia.

Access Statistics for this article

Lecturas de Economía is currently edited by Carlos Andrés Vasco Correa

More articles in Lecturas de Economía from Universidad de Antioquia, Departamento de Economía Contact information at EDIRC.
Bibliographic data for series maintained by Carlos Andrés Vasco Correa (carlos.vasco@udea.edu.co).