Showing 1 - 10 of 395
This paper estimates interfuel substitution elasticities in selected developing and industrialized economies at the national and sector levels. In doing so, it employs state-of-the-art techniques in microeconometrics, particularly the locally flexible normalized quadratic functional forms, and...
Persistent link: https://www.econbiz.de/10004998442
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...
Persistent link: https://www.econbiz.de/10008863732
Persistent link: https://www.econbiz.de/10008694095
Persistent link: https://www.econbiz.de/10008707044
Persistent link: https://www.econbiz.de/10008814640
In this paper, we use the locally flexible translog functional form to investigate the demand for energy and interfuel substitution in the United States and to provide a comparison of our results with most of the existing empirical energy demand literature. Motivated by the widespread practice...
Persistent link: https://www.econbiz.de/10008507262
Persistent link: https://www.econbiz.de/10008670287
Persistent link: https://www.econbiz.de/10008391704
This paper extends the work in Serletis (1992) by re-examining the empirical evidence for random walk type behavior in energy futures prices. It tests for fractional integrating dynamics in energy futures markets utilizing more recent data (from January 3, 1994 to June 30, 2005) and a new...
Persistent link: https://www.econbiz.de/10012751426
The theories of investment under uncertainty and real options predict that uncertainty about, for example, oil prices will tend to depress current investment. We reinvestigate the relationship between the price of oil and investment, focusing on the role of uncertainty about oil prices. We find...
Persistent link: https://www.econbiz.de/10012761337