Haller, Stefanie A.; Hyland, Marie - 2014
. We estimate both own- and cross-price elasticities and Morishima elasticities of substitution between capital, labour …, materials and energy. We find that capital and energy are substitutes in the production process. Across all firms we find that a … 1% rise in the price of energy is associated with an increase of 0.1% in the demand for capital. The Morishima …