Returns to scale in electricity generation: Replicated and revisited

David H. Bernstein, Christopher F. Parmeter

Research output: Contribution to journalArticlepeer-review

5 Scopus citations

Abstract

We replicate the findings of two influential studies on returns to scale in the United States electricity generation market. The main results are contrasted using both local-linear nonparametric regression, a technique robust to parametric functional form assumptions, as well as an updated data set. While the quantitative findings across all of the estimators deployed differ somewhat regarding the magnitude of returns to scale, we document a decrease in returns to scale within the electricity generation market from 1955 to 1996.

Original languageEnglish (US)
Pages (from-to)4-15
Number of pages12
JournalEnergy Economics
Volume82
DOIs
StatePublished - Aug 2019

Keywords

  • Nonparametric
  • Replication
  • Seemingly unrelated regression
  • Shephard's lemma
  • System estimation

ASJC Scopus subject areas

  • Economics and Econometrics
  • Energy(all)

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