International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution

In this paper, we build on recent work by Serletis et al. (2010, in press) and report short- and long-run estimates of aggregate interfuel substitution for a number of OECD and non-OECD countries. In doing so, we use recent pooled intercountry data (since 1980), and state-of-the-art advances in micr...

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Main Authors:	Serletis, Apostolos, Timilsina, Govinda, Vasetsky, Olexandr
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Energy: Demand and Supply Q410
Online Access:	http://hdl.handle.net/10986/4936

id	okr-10986-4936
recordtype	oai_dc
spelling	okr-10986-49362021-04-23T14:02:20Z International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution Serletis, Apostolos Timilsina, Govinda Vasetsky, Olexandr Energy: Demand and Supply Q410 In this paper, we build on recent work by Serletis et al. (2010, in press) and report short- and long-run estimates of aggregate interfuel substitution for a number of OECD and non-OECD countries. In doing so, we use recent pooled intercountry data (since 1980), and state-of-the-art advances in microeconometrics, including duality theory and flexible functional forms. Also, motivated by the widespread practice in the empirical energy demand literature of ignoring theoretical regularity, we estimate our model subject to global curvature (but not monotonicity), using methods developed by Diewert and Wales (1987). We provide inference, and also a policy perspective, using parameter estimates that are consistent with the theoretical regularity conditions of neoclassical microeconomic theory. 2012-03-30T07:30:28Z 2012-03-30T07:30:28Z 2011 Journal Article Energy Economics 01409883 http://hdl.handle.net/10986/4936 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Energy: Demand and Supply Q410
spellingShingle	Energy: Demand and Supply Q410 Serletis, Apostolos Timilsina, Govinda Vasetsky, Olexandr International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	In this paper, we build on recent work by Serletis et al. (2010, in press) and report short- and long-run estimates of aggregate interfuel substitution for a number of OECD and non-OECD countries. In doing so, we use recent pooled intercountry data (since 1980), and state-of-the-art advances in microeconometrics, including duality theory and flexible functional forms. Also, motivated by the widespread practice in the empirical energy demand literature of ignoring theoretical regularity, we estimate our model subject to global curvature (but not monotonicity), using methods developed by Diewert and Wales (1987). We provide inference, and also a policy perspective, using parameter estimates that are consistent with the theoretical regularity conditions of neoclassical microeconomic theory.
format	Journal Article
author	Serletis, Apostolos Timilsina, Govinda Vasetsky, Olexandr
author_facet	Serletis, Apostolos Timilsina, Govinda Vasetsky, Olexandr
author_sort	Serletis, Apostolos
title	International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
title_short	International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
title_full	International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
title_fullStr	International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
title_full_unstemmed	International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution
title_sort	international evidence on aggregate short-run and long-run interfuel substitution
publishDate	2012
url	http://hdl.handle.net/10986/4936
_version_	1764393308667248640

International Evidence on Aggregate Short-Run and Long-Run Interfuel Substitution

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