The substitution of capital, labor and energy in the Israeli economy

Ronn I. Ehud; Arie Melnik

doi:10.1016/0165-0572(81)90003-7

The substitution of capital, labor and energy in the Israeli economy

Ronn I. Ehud, Arie Melnik

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

The study explores the empirical relationships between capital, labor and energy in the Israeli economy. The results - based on a transcendental cost function analysis - show that the substitutability between labor and energy increased until 1972, and from 1973 on it decreased. Energy and capital were complementary during 1955-1972; after 1973 this complementarity was weakened. Our results indicate that the Israeli Economy is quite responsive to changes in relative factor prices.

Original language	English
Pages (from-to)	247-258
Number of pages	12
Journal	Resources and Energy
Volume	3
Issue number	3
DOIs	https://doi.org/10.1016/0165-0572(81)90003-7
State	Published - Nov 1981

ASJC Scopus subject areas

General Environmental Science
General Earth and Planetary Sciences

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10.1016/0165-0572(81)90003-7

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AB - The study explores the empirical relationships between capital, labor and energy in the Israeli economy. The results - based on a transcendental cost function analysis - show that the substitutability between labor and energy increased until 1972, and from 1973 on it decreased. Energy and capital were complementary during 1955-1972; after 1973 this complementarity was weakened. Our results indicate that the Israeli Economy is quite responsive to changes in relative factor prices.

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The substitution of capital, labor and energy in the Israeli economy

Abstract

ASJC Scopus subject areas

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