From Theory to Econometrics to Energy Policy: Cautionary Tales for Policymaking Using Aggregate Production Functions

From Theory to Econometrics to Energy Policy: Cautionary Tales for Policymaking Using Aggregate Production Functions

Development of energy policy is often informed by economic considerations via aggregate production functions (APFs). We identify a theory-to-policy process involving APFs comprised of six steps: (1) selecting a theoretical energy-economy framework; (2) formulating modeling approaches; (3) econometri...

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Bibliographic Details
Main Authors: Matthew K. Heun, João Santos, Paul E. Brockway, Randall Pruim, Tiago Domingos, Marco Sakai
Format: Article
Language:English
Published: MDPI AG 2017-02-01
Series:Energies
Subjects:
energy policy
econometrics
CES
Solow residual
cost share principle
Online Access:http://www.mdpi.com/1996-1073/10/2/203

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