A Comparative Study of Energy Saving Technical Progress in a Vintage Capital Model

Perez-Barahona, Agustin;Zou, Benteng
(2004)

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  • Perez-Barahona, Agustin
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  • Zou, Benteng
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Abstract
We analyzed the hypothesis about the effectiveness of energy saving technologies to reduce the trade-off between economic growth and energy preservation. In a general equilibrium vintage capital model with embodied energy saving technical progress, we show that the success of energy saving technologies is questionable in a scenario of decreasing energy supply. Only constant returns to scale, with constant energy supply, yields long run growth.
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Perez-Barahona, A., & Zou, B. (2004). A Comparative Study of Energy Saving Technical Progress in a Vintage Capital Model (ECON Working Papers 2004/02). https://hdl.handle.net/2078.5/43001