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| Author: | Linn, J. |
| Title: | Energy prices and the adoption of energy-saving technology |
| Journal: | Economic Journal
2008 : NOV, VOL. 118:533, p. 1986-2012 |
| Index terms: | finance industries technological innovation energy consumption energy conservation prices |
| Language: | eng |
| Abstract: | This study deals with the link btw. factor prices, factor demands, and technology. Based on plant-level data from the Census of Manufactures, the energy intensity of entrants and incumbents is compared from 1967 to 1997. A 10 percent increase in the price of energy reduces the relative energy intensity of entrants by 1 percent. The estimate implies that technology adoption by incumbents explains a statistically significant but relatively small fraction of changes in aggregate energy demand in the 1970s and 1980s. In addition, entrants' technology adoption can reduce the long run effect of energy prices on growth, by less than previous research has found, though. |
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