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dc.contributor.authorStresing, Roberten_US
dc.contributor.authorLindenberger, Dietmaren_US
dc.contributor.authorKümmel, Reineren_US
dc.description.abstractCointegration analysis is applied to the linear combinations of the time series of (the logarithms of) output, capital, labor, and energy for Germany, Japan, and the USA since 1960. The computed cointegration vectors represent the output elasticities of the aggregate energy-dependent Cobb-Douglas function. The output elasticities give the economic weights of the production factors capital, labor, and energy. We find that they are for labor much smaller and for energy much larger than the cost shares of these factors. In standard economic theory output elasticities equal cost shares. Our heterodox findings support results obtained with LINEX production functions.en_US
dc.publisher|aEnergiewirtschaftliches Inst. an der Univ. Köln|cKölnen_US
dc.relation.ispartofseries|aEWI Working Paper|x08,04en_US
dc.titleCointegration of output, capital, labor, and energyen_US
dc.type|aWorking Paperen_US

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