Modeling and measuring natural resource substitution
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Abstract
Papers presented at a National Science Foundation conference on December 13 and 14, 1979 making up the chapters of this book survey recent research on the empirical issues of resource substitution and/or technological-change measurements. They examine the long-term issue of growth vitality as well as short-term issues of sectoral economic dislocations caused by rising resource prices. Recent econometric studies of substitution elasticities represent a new burst in research activity. The degree of agreement is highest on capital-labor as a nonenergy substitute, but other studies have various interpretations depending on the biases and the nature of inputs. 289 references, 2 figures, 57 tables. (DCK)