Returns to Scale in Electricity Generation: Revisited and Replicated
David Bernstein () and
No 2017-08, Working Papers from University of Miami, Department of Economics
We replicate the findings of two in uential studies on returns to scale in the electricity generation market in the United States. The main results are also contrasted using local linear nonparametric regression, a technique robust to functional form assumptions. While the quantitative findings differ somewhat regarding the magnitude of returns to scale, we find that there is a substantial shift in returns to scale across the electricity generation market of 1955 to that of 1970.
Keywords: System Estimation; Shepard's Lemma; Seemingly Unrelated Regression; Nonparametric. Publication Status: Submitted (search for similar items in EconPapers)
JEL-codes: C1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:mia:wpaper:2017-08
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