Capital-Labor-Energy Substitution in Nested Ces Production Functions for China

@inproceedings{Shen2013CapitalLaborEnergySI,
  title={Capital-Labor-Energy Substitution in Nested Ces Production Functions for China},
  author={Keting Shen and John Whalley},
  year={2013}
}
In the CGE based policy modeling literature, especially recent literature on policy modeling for global climate change, nested CES production functions over multiple inputs have been widely used. Although lack of reliable estimates of substitution elasticities for nested structures has been acknowledged for a long time, the problem has not yet been solved satisfactorily. This is especially the situation for the Chinese case for which modeling work has global implications. This paper reports… CONTINUE READING

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