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Choice of Technology and Long-Run Technical Change in Energy-Intensive Industries

Finn R. Forsund and Lennart Hjalmarsson

Year: 1988
Volume: Volume 9
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No3-3
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Abstract:
The difference between short-run and long-run flexibility in energy use is an important topic in energy demand modeling. Dynamic formulations are required to reveal this difference. The microeconomic foundation for the distinction between short- and long-run energy substitution possibilities is the embodiment of production techniques.





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