Electricity1970 {AER} | R Documentation |
Cost Function of Electricity Producers 1970
Description
Cross-section data, at the firm level, on electric power generation.
Usage
data("Electricity1970")
Format
A data frame containing 158 cross-section observations on 9 variables.
- cost
total cost.
- output
total output.
- labor
wage rate.
- laborshare
cost share for labor.
- capital
capital price index.
- capitalshare
cost share for capital.
- fuel
fuel price.
- fuelshare
cost share for fuel.
Details
The data are from Christensen and Greene (1976) and pertain to the year 1970. However, the file contains some extra observations, the holding companies. Only the first 123 observations are needed to replicate Christensen and Greene (1976).
Source
Online complements to Greene (2003), Table F5.2.
https://pages.stern.nyu.edu/~wgreene/Text/tables/tablelist5.htm
References
Christensen, L. and Greene, W.H. (1976). Economies of Scale in U.S. Electric Power Generation. Journal of Political Economy, 84, 655–676.
Greene, W.H. (2003). Econometric Analysis, 5th edition. Upper Saddle River, NJ: Prentice Hall.
See Also
Examples
data("Electricity1970")
## Greene (2003), Ex. 5.6: a generalized Cobb-Douglas cost function
fm <- lm(log(cost/fuel) ~ log(output) + I(log(output)^2/2) +
log(capital/fuel) + log(labor/fuel), data=Electricity1970[1:123,])