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Technology Adoption and Aggregate Energy Efficiency

  • 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)

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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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
Contact details of provider: Web page: http://www.rff.org

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  1. Barro, Robert J, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 407-43, May.
  2. Pizer, William & Morgenstern, Richard & Shih, Jhih-Shyang, 1998. "The Cost of Environmental Protection," Discussion Papers dp-98-36, Resources For the Future.
  3. 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.
  4. 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.
  5. 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.
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