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Energy quality

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  • Stern, David I.

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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Bibliographic 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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Keywords: Energy; Quality; Productivity;

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References

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  1. Giannias, Dimitrios A, 1998. "Labour Quality and Wage Differentials," Scottish Journal of Political Economy, Scottish Economic Society, vol. 45(2), pages 188-97, May.
  2. 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.
  3. Stern, David I., 2009. "Interfuel Substitution: A Meta-Analysis," Research Reports 94882, Australian National University, Environmental Economics Research Hub.
  4. Daron Acemoglu, 2003. "Labor- And Capital-Augmenting Technical Change," Journal of the European Economic Association, MIT Press, vol. 1(1), pages 1-37, 03.
  5. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2003. "Lessons for Canada from the U.S. Growth Resurgence," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 3-18, Spring.
  6. Stern, David I., 1993. "Energy and economic growth in the USA : A multivariate approach," Energy Economics, Elsevier, vol. 15(2), pages 137-150, April.
  7. Ellis W. Tallman & Ping Wang, 1990. "Human capital and endogenous growth: evidence from Taiwan," Working Paper 90-9, Federal Reserve Bank of Atlanta.
  8. 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.
  9. Ayres, Robert U. & Warr, Benjamin, 2005. "Accounting for growth: the role of physical work," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 181-209, June.
  10. 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.
  11. Kerstin, Enflo & Kander, Astrid & Schön, Lennart, 2008. "Electrification and energy productivity," CIRCLE Electronic Working Papers 2008/16, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.
  12. Stern, David I., 1999. "Use value, exchange value, and resource scarcity," Energy Policy, Elsevier, vol. 27(8), pages 469-476, August.
  13. Eugenia Kazamaki Ottersten & Thomas Lindh Mellander, 1999. "Evaluating firm training, effects on performance and labour demand," Applied Economics Letters, Taylor and Francis Journals, vol. 6(7), pages 431-437.
  14. Dennis D. Kimko & Eric A. Hanushek, 2000. "Schooling, Labor-Force Quality, and the Growth of Nations," American Economic Review, American Economic Association, vol. 90(5), pages 1184-1208, December.
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Cited by:
  1. David I. Stern, 2010. "The Role of Energy in Economic Growth," CCEP Working Papers 0310, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.
  2. David I. Stern & Frank Jotzo, 2009. "How Ambitious are China and India's Emissions Intensity Targets?," Environmental Economics Research Hub Research Reports 1051, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
  3. David I. Stern & Kerstin Enflo, 2013. "Causality Between Energy and Output in the Long-Run," CAMA Working Papers 2013-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  4. Jack Gregory & David I. Stern, 2012. "Fuel Choices in Rural Maharashtra," CCEP Working Papers 1207, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.

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