In the fight against global warming, the reduction of greenhouse gas emissions is a major objective. In particular, a decrease in electricity generation by coal could contribute to reducing CO2 emissions. Using a multi-region dynamic general equilibrium model, this paper studies potential...

Estimates of price substitution among capital, labor, and energy are critical to numerous policy issues. Estimating factor share equations of the translog production function requires constant returns to scale and competitive factor markets. The present estimates find mixed evidence on these...