전기가격의 기업생산 및 입지선정에 대한 영향분석: 초월대수 생산함수를 사용하여 = The Effects of Electricity Price on Business Production and Location: A Translog Production Function Approach

다국어 초록 (Multilingual Abstract)

This study examines how business responses to geographical differences in electricity price vary by business characteristics, i.e., whether businesses are relatively heavy users of electricity or not, and whether they are relatively footloose or tied to their current location. It employs a translog production function approach and utilizes 6-digit industry-level yearly data from 1997 to 2001 in the United States.
Empirical findings suggest that in responding to a high price of electricity at their current location, heavy users of electricity, regardless of whether they are relatively footloose or not, try to substitute away from electricity use rather than relocate to a new place where the price of electricity is lower. However, these users cannot substitute enough to maintain their ex-ante rates of return, thus leading to loss of profits and competitiveness.

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