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Energy and capital: Substitutes or complements! A note on the importance of testing for non-neutral technical progress

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Energy and capital : Substitutes or complements! A note on the importance of testing for non-neutral technical progress. / Charles Hunt, Lester.

In: Applied Economics, Vol. 18, No. 7, 01.07.1986, p. 729-735.

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@article{09cb08699a8e4aa9a6e1c3dfe783d95f,
title = "Energy and capital: Substitutes or complements! A note on the importance of testing for non-neutral technical progress",
abstract = "This note investigates the importance of testing the validity of the Hicks-neutral technical progress assumption in the context of examining the substitutability or complementarity between capital, labour and energy in the UK industrial sector. It is found that the hypothesis of neutral technical progress must be rejected in favour of the non-neutral hypothesis: with technical progress thus biased to using both capital and energy but to saving labour. In addition, it is found that all three factors are substitutable for one another when non-neutral technical progress is modelled.",
author = "{Charles Hunt}, Lester",
year = "1986",
month = jul,
day = "1",
doi = "10.1080/00036848600000088",
language = "English",
volume = "18",
pages = "729--735",
journal = "Applied Economics",
issn = "0003-6846",
publisher = "Routledge",
number = "7",

}

RIS

TY - JOUR

T1 - Energy and capital

T2 - Substitutes or complements! A note on the importance of testing for non-neutral technical progress

AU - Charles Hunt, Lester

PY - 1986/7/1

Y1 - 1986/7/1

N2 - This note investigates the importance of testing the validity of the Hicks-neutral technical progress assumption in the context of examining the substitutability or complementarity between capital, labour and energy in the UK industrial sector. It is found that the hypothesis of neutral technical progress must be rejected in favour of the non-neutral hypothesis: with technical progress thus biased to using both capital and energy but to saving labour. In addition, it is found that all three factors are substitutable for one another when non-neutral technical progress is modelled.

AB - This note investigates the importance of testing the validity of the Hicks-neutral technical progress assumption in the context of examining the substitutability or complementarity between capital, labour and energy in the UK industrial sector. It is found that the hypothesis of neutral technical progress must be rejected in favour of the non-neutral hypothesis: with technical progress thus biased to using both capital and energy but to saving labour. In addition, it is found that all three factors are substitutable for one another when non-neutral technical progress is modelled.

UR - http://www.scopus.com/inward/record.url?scp=0022860973&partnerID=8YFLogxK

U2 - 10.1080/00036848600000088

DO - 10.1080/00036848600000088

M3 - Article

AN - SCOPUS:0022860973

VL - 18

SP - 729

EP - 735

JO - Applied Economics

JF - Applied Economics

SN - 0003-6846

IS - 7

ER -

ID: 7965433