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Energy quality

  • Stern, David I.

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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File URL: http://mpra.ub.uni-muenchen.de/16857/1/MPRA_paper_16857.pdf
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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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  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. David I. Stern, 2012. "Interfuel Substitution: A Meta‐Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 26(2), pages 307-331, 04.
  3. Eugenia Kazamaki Ottersten & Thomas Lindh Mellander, 1999. "Evaluating firm training, effects on performance and labour demand," Applied Economics Letters, Taylor & Francis Journals, vol. 6(7), pages 431-437.
  4. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  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. John M. Abowd & Francis Kramarz & Antoine Moreau, 1995. "Product Quality and Worker Quality," NBER Working Papers 5077, National Bureau of Economic Research, Inc.
  7. 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.
  8. Daron Acemoglu, 2000. "Labor- and Capital- Augmenting Technical Change," NBER Working Papers 7544, National Bureau of Economic Research, Inc.
  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.
  10. Stern, David I., 1999. "Use value, exchange value, and resource scarcity," Energy Policy, Elsevier, vol. 27(8), pages 469-476, August.
  11. 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.
  12. Stern, David I., 1993. "Energy and economic growth in the USA : A multivariate approach," Energy Economics, Elsevier, vol. 15(2), pages 137-150, April.
  13. Kerstin, Enflo & Kander, Astrid & Schön, Lennart, 2008. "Electrification and energy productivity," Papers in Innovation Studies 2008/16, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.
  14. 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.
  15. Jerik Hanushek & Dennis Kimko, 2006. "Schooling, Labor-force Quality, and the Growth of Nations," Educational Studies, Higher School of Economics, issue 1, pages 154-193.
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