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Fig. 7 | Environmental and Resource Economics

Fig. 7

From: A Good Opening: The Key to Make the Most of Unilateral Climate Action

Fig. 7

Production nest and the elasticity of substitution. KL Capital-labour aggregate, K Capital invested in the production of final good, L Labour, ES Energy services, HE Energy R&D capital, ENEnergy, EL Electric energy, NEL Non-electric energy, OGB Oil, breakthrough (BACKnel), gas and biofuel nest, ELFF Fossil fuel electricity nest, W&S Wind and solar, ELj Electricity generated with technology j (IGCC plus CCS, Oil, Coal, Gas, Breakthrough (ELBACK), Nuclear, Wind plus Solar); TradBiom Traditional Biomass, TradBio Traditional Biofuels, AdvBio Advanced Biofuels

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