THE EFFECT OF APPLYING THE REAL PRICE OF ENERGY ON THE ELASTICITY OF ENERGY DEMAND AND ESTIMATING ENERGY SUBSTITUTION ELASTICITY IN THE INDUSTRIAL SECTOR IN THE LONG RUN (A CASE STUDY: INDUSTRIAL FACTORIES INCLUDING MORE THAN 50 WORKERS DURING THE YEARS 1995 TO 2006)

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SHAKIBAEI ALIREZA; SADEGHI ZEINLABDEN; AAMA BANDAQARAYI HASSAN

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Journal: Journal of Iran's Economic Essays; an Islamic approach Year:2009 | Volume:6 | Issue:11 Page(s): 133-155

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Title

THE EFFECT OF APPLYING THE REAL PRICE OF ENERGY ON THE ELASTICITY OF ENERGY DEMAND AND ESTIMATING ENERGY SUBSTITUTION ELASTICITY IN THE INDUSTRIAL SECTOR IN THE LONG RUN (A CASE STUDY: INDUSTRIAL FACTORIES INCLUDING MORE THAN 50 WORKERS DURING THE YEARS 1995 TO 2006)

Author(s)

SHAKIBAEI ALIREZA | SADEGHI ZEINLABDEN | AAMA BANDAQARAYI HASSAN | Issue Writer Certificate

Keywords

TRANSLOG COST FUNCTIONQ3

REAL PRICESQ3

CROSS ELASTICITYQ3

MURISHIMA ELASTICITY OF SUBSTITUTIONQ3

Abstract

Applying the real price of energy and redistribution of its subsidies have been one of the most critical and controversial issues in the Iranian economy in the last few years. Concerning this issue, the industrial institutes’ reaction to the energy’s real price and its related effects on industrial demands elasticity is especially important. In this study, using the TRANSLOG COST FUNCTION and shepherd’s lemma, the function of the share of each of the production factors has been estimated from the total cost. From these estimations, elasticities of own and cross have been worked out.Murishima Elasticities of Substitution (MES) has also been estimated. Since the MES elasticities indicating the percentage of variation in the proportion of the factors due to the price variation is one of the critical factors, it is therefore by the aid of these elasticities that the procedure of implementing these factors has been considered. In part of this study, scenario building and a 75% increase in the energy price has been manipulated and its effects on the abovementioned elasticities have been examined. The relevant production factors in this study include: capital, labor force, and energy. The results of the study implies that the 75% increase in the energy price has significantly reduced the own – price elasticity of demand and the other elasticities.

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APA: Copy

SHAKIBAEI, ALIREZA, SADEGHI, ZEINLABDEN, & AAMA BANDAQARAYI, HASSAN. (2009). THE EFFECT OF APPLYING THE REAL PRICE OF ENERGY ON THE ELASTICITY OF ENERGY DEMAND AND ESTIMATING ENERGY SUBSTITUTION ELASTICITY IN THE INDUSTRIAL SECTOR IN THE LONG RUN (A CASE STUDY: INDUSTRIAL FACTORIES INCLUDING MORE THAN 50 WORKERS DURING THE YEARS 1995 TO 2006). JOURNAL OF ECONOMIC ESSAYS, 6(11), 133-155. SID. https://sid.ir/paper/108987/en

Vancouver: Copy

SHAKIBAEI ALIREZA, SADEGHI ZEINLABDEN, AAMA BANDAQARAYI HASSAN. THE EFFECT OF APPLYING THE REAL PRICE OF ENERGY ON THE ELASTICITY OF ENERGY DEMAND AND ESTIMATING ENERGY SUBSTITUTION ELASTICITY IN THE INDUSTRIAL SECTOR IN THE LONG RUN (A CASE STUDY: INDUSTRIAL FACTORIES INCLUDING MORE THAN 50 WORKERS DURING THE YEARS 1995 TO 2006). JOURNAL OF ECONOMIC ESSAYS[Internet]. 2009;6(11):133-155. Available from: https://sid.ir/paper/108987/en

IEEE: Copy

ALIREZA SHAKIBAEI, ZEINLABDEN SADEGHI, and HASSAN AAMA BANDAQARAYI, “THE EFFECT OF APPLYING THE REAL PRICE OF ENERGY ON THE ELASTICITY OF ENERGY DEMAND AND ESTIMATING ENERGY SUBSTITUTION ELASTICITY IN THE INDUSTRIAL SECTOR IN THE LONG RUN (A CASE STUDY: INDUSTRIAL FACTORIES INCLUDING MORE THAN 50 WORKERS DURING THE YEARS 1995 TO 2006),” JOURNAL OF ECONOMIC ESSAYS, vol. 6, no. 11, pp. 133–155, 2009, [Online]. Available: https://sid.ir/paper/108987/en

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