Capital, Energy and Labour Substitution: The Supply Block in OECD Medium-Term Models
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper sets out the various stages in the construction and estimation of a supply block for medium-term projection models. It describes the theoretical basis for the specification chosen and the estimation results.The basic block is a set of production factor demand functions. It is refined by modelling the scrapping behaviour of firms,...
