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Technology Adoption and Aggregate Energy Efficiency

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  • Pizer, William

    ()
    (Resources for the Future)

  • Kopp, Raymond

    ()
    (Resources for the Future)

  • Morgenstern, Richard

    ()
    (Resources for the Future)

  • Harrington, Winston

    ()
    (Resources for the Future)

  • Shih, Jhih-Shyang

    ()
    (Resources for the Future)

Abstract

Improved technology is often cited as a means to alter the otherwise difficult trade-off between the economic burden of regulation and environmental damage. Focusing on energy-saving technologies that mitigate the threat of climate change, we find that both energy prices and financial health influence technology adoption among a sample of industrial plants in four heavily polluting sectors. Based on a model linking technology adoption to growth in aggregate efficiency, we estimate that a doubling of energy prices, after raising the growth rate to 2.1%, would require slightly more than 50 years to generate a 50% improvement in aggregate efficiency relative to the baseline forecast.

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Bibliographic Info

Paper provided by Resources For the Future in its series Discussion Papers with number dp-02-52.

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Date of creation: 01 Oct 2002
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Handle: RePEc:rff:dpaper:dp-02-52

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Related research

Keywords: energy efficiency; endogenous technological change; technology adoption;

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References

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  1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
  2. Levin, Sharon G & Levin, Stanford L & Meisel, John B, 1987. "A Dynamic Analysis of the Adoption of a New Technology: The Case of Optical Scanners," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 12-17, February.
  3. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier.
  4. Richard D. Morgenstern & William A. Pizer & Jhih-Shyang Shih, 2001. "The Cost Of Environmental Protection," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 732-738, November.
  5. Jaffe, Adam B. & Stavins, Robert N., 1994. "The energy paradox and the diffusion of conservation technology," Resource and Energy Economics, Elsevier, vol. 16(2), pages 91-122, May.
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Cited by:
  1. Löfgren, Åsa & Wråke, Markus & Hagberg, Tomas & Roth, Susanna, 2013. "The Effect of EU-ETS on Swedish Industry's Investment in Carbon Mitigating Technologies," Working Papers in Economics 565, University of Gothenburg, Department of Economics.
  2. 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.
  3. David Popp & Richard G. Newell & Adam B. Jaffe, 2009. "Energy, the Environment, and Technological Change," NBER Working Papers 14832, National Bureau of Economic Research, Inc.
  4. Georgina Moreno & David Sunding, 2001. "Factor Price Risk and the Diffusion of Conservation Technology: Evidence from the Water Industry," Claremont Colleges Working Papers 2001-36, Claremont Colleges.
  5. Bonilla, David, 2007. "Fuel Price Changes and the Adoption of Cogeneration in the U.K. and Netherlands," The Electricity Journal, Elsevier, vol. 20(7), pages 59-71.
  6. Adam Jaffe & Richard Newell & Robert Stavins, 2002. "Environmental Policy and Technological Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 41-70, June.
  7. Jaffe, Adam B. & Newell, Richard G. & Stavins, Robert N., 2003. "Chapter 11 Technological change and the environment," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 1, chapter 11, pages 461-516 Elsevier.
  8. 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.
  9. Kounetas, Kostas & Tsekouras, Kostas, 2008. "The energy efficiency paradox revisited through a partial observability approach," Energy Economics, Elsevier, vol. 30(5), pages 2517-2536, September.

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