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Factor Demand and Substitution in Mineral-Intensive Industries

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  • J. R. Moroney
  • John M. Trapani

Abstract

This paper presents a model of the demand for reproducible capital, labor, and nonfuel mineral resources in six manufacturing industries that process exhaustible mineral resources. Partial substitution elasticities are estimated from translog unit cost functions and factor demand equations. These estimates are then used to simulate input demands in a setting of exhaustible resources scarcity. The principal finding is that substitution possibilities are much more limited than those implied by Cobb-Douglas production technology, and this has important implications for the possible conservation of exhaustible resources.

Suggested Citation

  • J. R. Moroney & John M. Trapani, 1981. "Factor Demand and Substitution in Mineral-Intensive Industries," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 272-284, Spring.
    • Handle: RePEc:rje:bellje:v:12:y:1981:i:spring:p:272-284
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    Cited by:

    1. Lee, Myunghun, 2008. "Environmental regulation and production structure for the Korean iron and steel industry," Resource and Energy Economics, Elsevier, vol. 30(1), pages 1-11, January.
    2. Hepburn, Cameron & Teytelboym, Alexander & Cohen, Francois, 2018. "Is Natural Capital Really Substitutable?," INET Oxford Working Papers 2018-12, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    3. Anil Markandya & Suzette Pedroso-Galinato, 2007. "How substitutable is natural capital?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(1), pages 297-312, May.
    4. Hilary Sigman, 2003. "Targeting Lead in Solid Waste," Departmental Working Papers 200308, Rutgers University, Department of Economics.
    5. Kolagar, Mina & Saboohi, Yadollah & Fathi, Amirhossein, 2022. "Evaluation of long-term steel demand in developing countries- Case study: Iran," Resources Policy, Elsevier, vol. 77(C).
    6. Halvorsen, Robert & Smith, Tim R, 1984. "On Measuring Natural Resource Scarcity," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 954-964, October.
    7. Feng Wang & Yijie Jiang & Wulin Zhang & Fang Yang, 2019. "Elasticity of factor substitution and driving factors of energy intensity in China’s industry," Energy & Environment, , vol. 30(3), pages 385-407, May.
    8. Yang, Zhenbing & Shi, Qingquan & Shao, Shuai & Lu, Minwei & Yang, Lili, 2023. "Stricter energy regulations and water consumption: Firm-level evidence from China," Energy Economics, Elsevier, vol. 120(C).
    9. Bölük, Gülden & Koç, A. Ali, 2010. "Electricity demand of manufacturing sector in Turkey: A translog cost approach," Energy Economics, Elsevier, vol. 32(3), pages 609-615, May.
    10. Zhu, Xuehong & Zeng, Anqi & Zhong, Meirui & Huang, Jianbai, 2021. "Elasticity of substitution and biased technical change in the CES production function for China's metal-intensive industries," Resources Policy, Elsevier, vol. 73(C).
    11. Raul Caruso & Maria Cipollina, 2023. "The Effect of Economic Sanctions on World Trade of Mineral Commodities. A Gravity Model Approach from 2009 to 2020," DISCE - Quaderni del Dipartimento di Politica Economica dipe0034, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

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