A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Energy Saving Technological Progress in a Vintage Capital Model
Fossil fuel is an essential input throughout all modern economies. The reduced availability of this basic input to production, and the stabilization of greenhouse gases concentration?which requires reductions in fossil fuel energy use?would have a negative impact in GDP and economic growth through cutbacks in energy use. However, this tradeoff between energy reduction and growth could be less severe if energy conservation is raised by energy saving technologies. Here we study this hypothesis and, in particular, the effect of a tax over the energy expenditure of firms as a way to promote investments in energy saving technologies. To do this we consider a general equilibrium model with embodied and exogenous energy saving technological progress in a vintage capital framework, where the scrapping rule is endogenous and linear simplifications are eliminated.
Energy Saving Technological Progress in a Vintage Capital Model
Fossil fuel is an essential input throughout all modern economies. The reduced availability of this basic input to production, and the stabilization of greenhouse gases concentration?which requires reductions in fossil fuel energy use?would have a negative impact in GDP and economic growth through cutbacks in energy use. However, this tradeoff between energy reduction and growth could be less severe if energy conservation is raised by energy saving technologies. Here we study this hypothesis and, in particular, the effect of a tax over the energy expenditure of firms as a way to promote investments in energy saving technologies. To do this we consider a general equilibrium model with embodied and exogenous energy saving technological progress in a vintage capital framework, where the scrapping rule is endogenous and linear simplifications are eliminated.
Energy Saving Technological Progress in a Vintage Capital Model
Perez-Barahona, Agustin (author) / Zou, Benteng (author) / UCL - ESPO/ECON - Département des sciences économiques
2003-01-01
Paper
Electronic Resource
English
DDC:
690
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