Ayres, Robert U.; den Bergh, Jeroen C.J.M. van; … - In: Structural Change and Economic Dynamics 27 (2013) C, pp. 79-88
Standard economic theory regards capital and labour as the main factors of production that satisfy the “cost-share theorem”. This paper argues that when a third factor, namely energy, is added physical constraints on substitution among the factors arise. We show that energy is a much more...
