Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100414
Authors: 
Saam, Marianne
Papageorgiou, Chris
Schulte, Patrick
Year of Publication: 
2014
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik - Session: Environmental Economics I F01-V3
Abstract: 
Recently Acemolgu, Aghion, Bursztyn and Hemous (AER 2012) formulated a model in which a high macroeconomic elasticity of substitution between clean and dirty production represents a crucial condition for green growth. Until now it has never been systematically estimated. Using a novel panel of cross-country sectoral data, we formulate specifications of nested CES production functions that allow to estimate a special case of this parameter: the elasticity of substitution between clean and dirty energy inputs. Contrary to what is expected based on the earlier interfuel substitution literature, we find evidence that this elasticity exceeds one.
JEL: 
O44
Q54
O47
Document Type: 
Conference Paper

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