Dynamic Factor Demands and the Effects of Energy Price Shocks
构建动态模型分析能源价格剧烈变化如何影响企业投资、就业和能源使用，基于美国数据估计参数并模拟，发现规模报酬不变假设被拒绝，劳动力调整成本较小，且结果有助于调和文献中能源需求弹性的矛盾估计。
A dynamic model is used to understand how sharp changes in energy prices affect investment behavior, employment, and energy use. The authors discuss the theory behind their model selection, model specifications, estimation methods and data; list parameter estimates and elasticities for the selected model; and describe the simulations. They conclude that (1) the data strongly reject the hypothesis of constant returns to scale within their specification of aggregate production; (2) the data indicate adjustment costs on labor are small, and (3) their results help reconcile some of the conflicting estimates of energy-demand elasticities appearing in recent literature. 23 references, 3 figures, 3 tables.