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Energy Prices and the Adoption of Energy-Saving Technology

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  • Joshua Linn

Abstract

This article investigates the link between factor prices, technology and factor demands. Using plant-level data from the Census of Manufactures, I compare the energy intensity of entrants and incumbents from 1967-97. A 10% increase in the price of energy reduces the relative energy intensity of entrants by 1%. The estimate implies that technology adoption by incumbents explains a statistically significant but relatively small fraction of changes in aggregate energy demand in the 1970s and 1980s. Furthermore, entrants' technology adoption can reduce the long run effect of energy prices on growth, but by less than previous research has found. Copyright � The Author(s). Journal compilation � Royal Economic Society 2008.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 118 (2008)
Issue (Month): 533 (November)
Pages: 1986-2012

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Handle: RePEc:ecj:econjl:v:118:y:2008:i:533:p:1986-2012

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Cited by:
  1. Marius Ley, 2010. "Insights into the Determinants of Innovation of Energy Efficiency," KOF Working papers 10-266, KOF Swiss Economic Institute, ETH Zurich.
  2. David Grover, 2012. "Knowledge versus technique in SO2-saving technological change: A comparative test using quantile regression with implications for greenhouse gas compliance," Grantham Research Institute on Climate Change and the Environment Working Papers 99, Grantham Research Institute on Climate Change and the Environment.
  3. Klier, Thomas & Linn, Joshua, 2013. "Technological Change, Vehicle Characteristics, and the Opportunity Costs of Fuel Economy Standards," Discussion Papers dp-13-40, Resources For the Future.
  4. Spyros Arvanitis & Ley Marius, 2010. "Factors Determining the Adoption of Energy-saving Technologies in Swiss Firms – An Analysis based on Micro Data," KOF Working papers 10-257, KOF Swiss Economic Institute, ETH Zurich.
  5. Steinbuks, Jevgenijs & Neuhoff, Karsten, 2014. "Assessing energy price induced improvements in efficiency of capital in OECD manufacturing industries," Policy Research Working Paper Series 6929, The World Bank.
  6. Noailly, Joëlle, 2012. "Improving the energy efficiency of buildings: The impact of environmental policy on technological innovation," Energy Economics, Elsevier, vol. 34(3), pages 795-806.
  7. Luisanna Onnis & Patrizio Tirelli, 2010. "Challenging the popular wisdom. New estimates of the unobserved economy," Working Papers 184, University of Milano-Bicocca, Department of Economics, revised Apr 2010.
  8. Sue Wing, Ian, 2008. "Explaining the declining energy intensity of the U.S. economy," Resource and Energy Economics, Elsevier, vol. 30(1), pages 21-49, January.
  9. Felix Groba & Barbara Breitschopf, 2013. "Impact of Renewable Energy Policy and Use on Innovation: A Literature Review," Discussion Papers of DIW Berlin 1318, DIW Berlin, German Institute for Economic Research.
  10. Alexiadis, Stilianos & Eleftheriou, Konstantinos & Nijkamp, Peter, 2013. "Technology adoption within a search model: Evidence from OECD countries," Economic Modelling, Elsevier, vol. 33(C), pages 137-148.
  11. Cantono, Simona, 2012. "Unveiling diffusion dynamics: an autocatalytic percolation model of environmental innovation diffusion and the optimal dynamic path of adoption subsidies," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201222, University of Turin.
  12. repec:dgr:uvatin:2011163 is not listed on IDEAS

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