Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/26745 
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dc.contributor.authorKümmel, Reineren
dc.contributor.authorSchmid, Jörgen
dc.contributor.authorAyres, Robert U.en
dc.contributor.authorLindenberger, Dietmaren
dc.date.accessioned2009-06-29-
dc.date.accessioned2009-07-31T09:46:23Z-
dc.date.available2009-07-31T09:46:23Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/26745-
dc.description.abstractThe equilibrium conditions for an economic system that produces output with several factors of production and which is subject to technological constraints are derived. Optimization of either output minus cost or integrated utility yields the conditions that output elasticities must be equal to a modification of the usual factor cost shares, where shadow prices due to the constraints add to factor prices. In a model, where capital, labor and energy (exergy) are the factors of production, the technological constraints are identified as limits to capacity utilization and automation. The shadow prices depend on the output elasticities. These elasticities are determined for Germany, Japan and the USA by econometric estimations of energy-dependent production functions that are derived from the twice differentiability requirement and the law of diminishing returns.en
dc.language.isoengen
dc.publisher|aInstitute of Energy Economics at the University of Cologne (EWI) |cKölnen
dc.relation.ispartofseries|aEWI Working Paper |x08,02en
dc.subject.jelA12en
dc.subject.jelC02en
dc.subject.jelE13en
dc.subject.jelQ43en
dc.subject.ddc330en
dc.subject.keywordOptimizationen
dc.subject.keywordtechnological constraintsen
dc.subject.keywordshadow pricesen
dc.subject.keywordoutput elasticitiesen
dc.subject.keywordenergyen
dc.subject.keywordeconomic growthen
dc.titleCost shares, output elasticities, and substitutability constraints-
dc.type|aWorking Paperen
dc.identifier.ppn603352391en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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