Berndt: ∗modeling∗ & Measuring Natural Resource Substitution - Hardcover

BERNDT, ER

9780262021746: Berndt: ∗modeling∗ & Measuring Natural Resource Substitution

Hardcover

ISBN 10: 0262021749 ISBN 13: 9780262021746

Publisher: MIT Press, 1982

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A strategy of natural resource substitution is critical if the nation is to adapt successfully to the emerging reality of resource shortages. The essays collected for the first time in this book provide evidence that economists are rising to the challenge, both in terms of anticipating the issues and developing appropriate methodologies for coping with them.The authors' range of considerations here includes duality principles, flexible function forms, the effects of technical innovation, possible energy-capital and energy-labor trade-offs, static and dynamic modeling, and short-term and longterm analytical frameworks. A number of chapters deal with energy resources, while others study substitutions for agricultural resources, nonfuel minerals, and metals.An introductory chapter by the editors, outlines the analytical and empirical state of affairs in this subject area and places the eleven chapters which follow within this context. These are grouped into three major topics: "Results from Recent Research on Resource Substitution and Technological Progress; Problems Arising from Recent Research; "and "Dynamic Models."Contributors are: Dale W. Jorgenson, Barbara M. Fraumeni, John R. Moroney, John M. Trapani, James M. Griffin, Heejoon Kang, Gardner M. Brown, David C. Stapleton, Richard G. Anderson, Raymond J. Kopp, V. Kerry Smith, J. R. Norsworthy, Michael J. Harper, Randall S. Brown, Laurits R. Christensen, M. Denny, M. Fuss, L. Waverman, Catherine J. Morrison, and G. Cambell Watkins.Ernst R. Berndt is Professor of Applied Economics at the Sloan School, MIT. Barry C. Field is Professor of Agricultural and Resource Economics at The University of Massachusetts.

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Review

"The authors have performed an exceedingly important function for economists and society in drawing together a synthesis and application of production functions for natural resources at a time when many of these factors of production have taken on greater relative scarcity and high real prices."- Earl O. Heady, Director and Distinguished Professor, The Center for Agricultural and Rural Development

Synopsis

The essays collected for the first time in this book provide evidence that economists are rising to the challenge, both in terms of anticipating the issues and developing appropriate methodologies for coping with them.

"About this title" may belong to another edition of this title.