The shadow price of substitutable sulfur in the US electric power plant: A distance function approach
The shadow price of substitutable sulfur in the US electric power plant: A distance function approach
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DOI：
10.1016/j.jenvman.2005.02.013
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发表时间：
2005-10-01
影响因子：
8.7
通讯作者：
Lee, M
中科院分区：
文献类型：
--
作者：
Lee, M
考虑到对二氧化硫排放的限制，一个可行的长期应对措施可能包括投资提高锅炉的燃料效率，或转向有效去除二氧化硫的生产工艺。考虑到硫和生产资本之间的替代可能性，我们将二氧化硫的影子价格作为减少硫排放的机会成本，以放弃的资本计算。输入距离函数估计的数据从51个燃煤美国发电机组在1977年和1986年之间运行。间接Morishima替代弹性表明，资本对硫的替代性较高。以1976年不变美元计算，硫的影子价格的总体加权平均估计为每磅-0.076美元。(c)2005爱思唯尔有限公司保留所有权利。
Given restrictions on sulfur dioxide emissions, a feasible long-run response could involve either an investment in improving boiler fuel-efficiency or a shift to a production process that is effective in removing sulfur dioxide. To allow for the possibility of substitution between sulfur and productive capital, we measure the shadow price of sulfur dioxide as the opportunity cost of lowering sulfur emissions in terms of forgone capital. The input distance function is estimated with data from 51 coal-fired US power units operating between 1977 and 1986. The indirect Morishima elasticities of substitution indicate that the substitutability of capital for sulfur is relatively high. The overall weighted average estimate of the shadow price of sulfur is -0.076 dollars per pound in constant 1976 dollars. (c) 2005 Elsevier Ltd. All rights reserved.