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<p>This paper analyzes the economywide elasticity of substitution between fossil and renewable energy carriers using demand behavior based on longitudinal data 1800–2012. Estimates are yielded by relative price and relative quantity and show gross substitutability between energy carriers, with the central estimate being 4.33. The standard errors of the coefficient estimates of the orthogonal regression are derived using a generalized method of moments.</p>

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Long-run substitutability between fossil and renewable energy: global evidence 1800–2012

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  • 发表日期：

    2025年6月30日

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  • H. Schwerin

摘要

This paper analyzes the economywide elasticity of substitution between fossil and renewable energy carriers using demand behavior based on longitudinal data 1800–2012. Estimates are yielded by relative price and relative quantity and show gross substitutability between energy carriers, with the central estimate being 4.33. The standard errors of the coefficient estimates of the orthogonal regression are derived using a generalized method of moments.