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Energy quality

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Author Info
Stern, David I.

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Abstract

This paper develops economic definitions of energy quality for individual fuels and energy aggregates. There are both use- and exchange-value concepts as well as marginal and total measures of energy quality. A factor augmentation or quality coefficients approach corresponds to the use-value definition while indicators based on distance functions and relative prices are exchange-value based definitions. These indicators are identical when the elasticity of substitution between fuels is infinity but diverge or cannot be computed for other interfuel elasticities of substitution. Under zero substitutability only the quality coefficients approach is defined. I also find that the ratio of an energy volume index to aggregate joules cannot be considered a complete indicator of aggregate energy quality as it does not account for quality changes in the component fuels.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16857.

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Date of creation: 19 Aug 2009
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Handle: RePEc:pra:mprapa:16857

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Related research
Keywords: Energy; Quality; Productivity;

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Find related papers by JEL classification:
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity

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References listed on IDEAS
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  1. Ottersten, Eugenia Kazamaki & Lindh, Thomas & Mellander, Erik, 1999. "Evaluating Firm Training, Effects on Performance and Labour Demand," Applied Economics Letters, Taylor and Francis Journals, vol. 6(7), pages 431-37, July. [Downloadable!] (restricted)
  2. Tallman, Ellis W. & Wang, Ping, 1994. "Human capital and endogenous growth evidence from Taiwan," Journal of Monetary Economics, Elsevier, vol. 34(1), pages 101-124, August. [Downloadable!] (restricted)
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  3. Giannias, Dimitrios A, 1998. "Labour Quality and Wage Differentials," Scottish Journal of Political Economy, Scottish Economic Society, vol. 45(2), pages 188-97, May. [Downloadable!] (restricted)
  4. David I. Stern, 2009. "Interfuel Substitution: A Meta-Analysis," Departmental Working Papers 2009-06, Australian National University, Economics RSPAS. [Downloadable!]
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  5. John M. Abowd & Françis Kramarz & Antoine Moreau, 1996. "Product Quality and Worker Quality," Annales d'Economie et de Statistique, ADRES, issue 41-42, pages 14, Janvier-J. [Downloadable!]
    Other versions:
  6. Jorgenson, Dale W. & Ho, Mun S. & Stiroh, Kevin J., 2003. "Lessons from the US growth resurgence," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 453-470, July. [Downloadable!] (restricted)
  7. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
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  8. Hunt, Lester C & Lynk, Edward L, 1993. "The Interpretation of Coefficients in Multiplicative-Logarithmic Functions," Applied Economics, Taylor and Francis Journals, vol. 25(6), pages 735-38, June.
  9. Cleveland, Cutler J. & Kaufmann, Robert K. & Stern, David I., 2000. "Aggregation and the role of energy in the economy," Ecological Economics, Elsevier, vol. 32(2), pages 301-317, February. [Downloadable!] (restricted)
  10. Daron Acemoglu, 2000. "Labor- and Capital- Augmenting Technical Change," NBER Working Papers 7544, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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