Energy Substitution, Separability, and Technical Progress in the Australian Iron and Steel Industry
澳大利亚钢铁业的能源替代、可分性与技术进步
The effects of the “energy crisis” on the Australian iron and Steel industry are analyzed by using a flexible functional form, the transcendental logarithmic (translog) function, which represents a second-order approximation of any twice differentiable function. The robustness of the translog is analyzed with special attention paid to factor aggregation and separability conditions as they relate to the specification of the functions. The estimation results suggest that…