| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9177 |
| DP9177 Energy-Saving Technical Change | |
| John Hassler; Conny Olovsson | |
| 发表日期 | 2012-10-14 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We estimate an aggregate production function with constant elasticity of substitution between energy and a capital/labor composite using U.S. data. The implied measure of energy-saving technical change appears to respond strongly to the oil-price shocks in the 1970s and has a negative medium-run correlation with capital/labor-saving technical change. Our findings are suggestive of a model of directed technical change, with low short-run substitutability between energy and capital/labor but significant substitutability over longer periods through technical change. We construct such a model, calibrate it based on the historical data, and use it to discuss possibilities for the future. |
| 主题 | International Macroeconomics |
| 关键词 | Directed technical change Energy saving |
| URL | https://cepr.org/publications/dp9177 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538012 |
| 推荐引用方式 GB/T 7714 | John Hassler,Conny Olovsson. DP9177 Energy-Saving Technical Change. 2012. |
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