Empirical measurements exist for consumption and production elasticity of substitution
Is it true that empirical measurements exist for consumption and production elasticity of substitution?
Yes. Numerous empirical studies successfully measure both the consumption and production elasticities of substitution across various sectors and economic contexts.
Verdict: SUPPORTED · 5 sources for, 0 against · Last checked
The claim asserts that empirical measurements exist for both consumption and production elasticity of substitution. Multiple papers in the provided set explicitly calculate or estimate these values for consumption (e.g., intertemporal substitution of consumption) and production (CES and Cobb-Douglas production functions at sectoral and national levels). Therefore, the claim is fully supported by the evidence.
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Antoszewski, M. (2019). Wide-range estimation of various substitution elasticities for CES production functions at the sectoral level. doi.org. https://doi.org/10.1016/J.ENECO.2019.07.016
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Kapoor, M. & Ravi, S. (2017). Elasticity of Intertemporal Substitution in Consumption in the Presence of Inertia: Empirical Evidence from a Natural Experiment. doi.org. https://doi.org/10.1287/mnsc.2016.2564
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Bonga‐bonga, L. (2009). THE SOUTH AFRICAN AGGREGATE PRODUCTION FUNCTION: ESTIMATION OF THE CONSTANT ELASTICITY OF SUBSTITUTION FUNCTION. doi.org. https://doi.org/10.1111/j.1813-6982.2009.01208.x
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Li, L., Xiong, W., Duan, W., & Xiong, Y. (2023). Evaluation on substitution of energy transition—An empirical analysis based on factor elasticity. doi.org. https://doi.org/10.3389/fenrg.2022.1068936
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T, H. & AA, T. (2025). Unbalanced growth and land overvaluation.. doi.org. https://doi.org/10.1073/pnas.2423295122
What does the evidence say?
The claim asserts that empirical measurements exist for both consumption and production elasticity of substitution. Multiple papers in the provided set explicitly calculate or estimate these values for consumption (e.g., intertemporal substitution of consumption) and production (CES and Cobb-Douglas production functions at sectoral and national levels). Therefore, the claim is fully supported by the evidence.
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