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Energy demand in Portuguese manufacturing: A two-stage model

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  • Borges, Antonio M.
  • Pereira, Alfredo M.

Abstract

We use a two-stage model of factor demand to estimate the parameters determining energy demand in Portuguese manufacturing. In the first stage, a capital-labor-energy-materials framework is used to analyze the substitutability between energy as a whole and other factors of production. In the second stage, total energy demand is decomposed into oil, coal and electricity demands. The two stages are fully integrated since the energy composite used in the first stage and its price are obtained from the second stage energy sub-model. The estimates obtained indicate that energy demand in manufacturing responds significantly to price changes. In addition, estimation results suggest that there are important substitution possibilities among energy forms and between energy and other factors of production. The role of price changes in energy-demand forecasting, as well as in energy policy in general, is clearly established.

Suggested Citation

  • Borges, Antonio M. & Pereira, Alfredo M., 1992. "Energy demand in Portuguese manufacturing: A two-stage model," Energy, Elsevier, vol. 17(1), pages 61-77.
    • Handle: RePEc:eee:energy:v:17:y:1992:i:1:p:61-77
    DOI: 10.1016/0360-5442(92)90033-V
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    Cited by:

    1. Jebaraj, S. & Iniyan, S., 2006. "A review of energy models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 10(4), pages 281-311, August.
    2. David I. Stern, 2012. "Interfuel Substitution: A Meta‐Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 26(2), pages 307-331, April.
    3. Koetse, Mark J. & de Groot, Henri L.F. & Florax, Raymond J.G.M., 2008. "Capital-energy substitution and shifts in factor demand: A meta-analysis," Energy Economics, Elsevier, vol. 30(5), pages 2236-2251, September.
    4. Gaspar, Vitor & Pereira, Alfredo M., 1995. "The impact of financial integration and unilateral public transfers on investment and growth in EC capital-importing countries," Journal of Development Economics, Elsevier, vol. 48(1), pages 43-66, October.
    5. Chen, Chung-Chiang, 2011. "An analytical framework for energy policy evaluation," Renewable Energy, Elsevier, vol. 36(10), pages 2694-2702.

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