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The Treatment of Intermediate Materialsin the Estimation of the Demand for Energy: The Case of U.S. Manufacturing, 1947-1971

Richard G. Anderson

Year: 1980
Volume: Volume 1
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No4-5
View Abstract

Abstract:
Continuing increases in the price of energy have stimulated extensive research on energy demand and factor substitution in the U.S. economy. The manufacturing segment of the U.S. economy consumes approximately one-fourth of aggregate U.S. energy if measured by Btu consumption, and about 40 percent if measured by the Btu content of the fuel used for electric power generation (see Table 1). Hence, the manufacturing sector has been specifically targeted as a source of potential reductions in energy demand in the Energy Policy and Conservation Act of 1975,This paper was completed while the author was Assistant Professor of Economics at Michigan State University. Acknowledgment is given to Ernst Berndt, Robert Engle,Franklin Fisher. Jerry Hausman, James Johannes, Robert Pindyck, and Robert Rasche for helpful comments. The author retains responsibility for errors.



Energy Prices and Capital Obsolescence: Evidence from the Oil Embargo Period

Joel C. Gibbons

Year: 1984
Volume: Volume 5
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No1-2
View Abstract

Abstract:
The average service life of fixed assets in U.S. manufacturing industries increased gradually from 1962 to 1969. Thereafter, it fell sharply up to the mid-1970s. The most rapid change occurred in the three years following the Arab oil embargo. There is reason to believe that these events were causally related: the rapid escalation of petroleum prices caused the decline in useful lives of plant and machinery. The reasoning behind this statement and an analysis of the data on service lives of fixed assets are the topic of this paper.



Capital-Energy Substitutionin the Long Run

Joel Gibbons

Year: 1984
Volume: Volume 5
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No2-7
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Abstract:
Econometric modeling of production relationships, especially those of manufacturing industries, entered a period of intense activity with the dramatic energy price shocks of the past ten years. This work has called attention to possibilities for substitution between energy and other factors, but it has not yet led to consensus on all the important issues.' One open issue has to do with the relative substitutability of fixed capital for energy, compared with the substitutability of other factors for energy. One set of studies, generally those based on international cross-section data, finds capital and energy to be Hicksian substitutes. Other studies, based on time series data, find them to be Hicksian complements.



Estimating Industrial Energy Demand with Firm-Level Data: The Case of Indonesia

Mark M. Pitt

Year: 1985
Volume: Volume 6
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No2-3
View Abstract

Abstract:
A number of recent studies have analyzed the role of energy in the structure of production. Most have used either a single time series for a country's manufacturing sector or time series data pooled by country or manufacturing subsector. The absence of similar data sets for developing countries has precluded the same type of analysis of their production structures. This is unfortunate since the impact of higher energy prices on these countries has been at least as severe as on the industrial countries. Furthermore, since it is likely that their structure of production is significantly different, the results of the existing econometric literature may not be applicable in understanding the role of energy prices in their economies.



Cost Shares, Own, and Cross-Price Elasticities in U.S. Manufacturing with Disaggregated Energy Inputs

Mahmood Moghimzadeh and Kern O. Kymn

Year: 1986
Volume: Volume 7
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No4-4
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Abstract:
Our purpose is to estimate cost shares and own-land cross-price elasticities of the demand for factors in the production of manufacturing output. To achieve more precise estimates than those of previous researchers, we do not consider energy a single unified input. It is disaggregated instead into electric and nonelectric energy. The period considered spans the years 1954 to 1977. The following brief review of the literature outlines the background.Hudson and Jorgenson (1974) studied the demand for manufacturing production factors. They subsequently estimated the own- and cross-price elasticities of demand for the various factors by applying a translog cost function at the industry level. Their model included capital, labor, energy, and nonenergy inputs.



Separating the Changing Composition of U.S. Manufacturing Production from Energy Efficiency Improvements: A Divisia Index Approach

G. Boyd, J. F. McDonald, M. Ross, and D. A. Hansont

Year: 1987
Volume: Volume 8
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No2-6
View Abstract

Abstract:
The demand for energy is normally broken down into five sectors: industry, utilities, the residential sector, the commercial sector, and transportation. Industry is the most heterogeneous of these with manufacturing accounting for about 80 percent of total industrial energy demand. Manufacturing is itself a very heterogeneous collection of production activities. As defined by the Standard Industrial Classification (SIC) method of the U.S. Department of Commerce, there were 448 manufacturing sectors in 1972.



Declining Energy Intensity in the U.S. Manufacturing Sector

Claire P. Doblin

Year: 1988
Volume: Volume 9
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No2-8
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Abstract:
Since the first oil price shock of 1973 -74, there has been considerable reduction in total energy use per unit of total output. This development has many names: increasing energy conservation, demand elasticity, increasing energy productivity, or, conversely, decreasing energy intensity.



Energy Conservation versus Supply Strategies: Implications for Industrial Policy

Bernard Bourgeois, Patrick Criqui, and Jacques Percebois

Year: 1988
Volume: Volume 9
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No3-4
View Abstract

Abstract:
Many strategies were developed by energy-importing countries to cope with oil shocks. Some mainly adapted to the new constraints of the energy environment and tried to make up for a relative disadvantage in the energy field by obtaining a relative advantage in industry or trade. The main effect of these adaptation strategies has been to offset growing energy deficits with steadily increasing industrial surpluses. On the other hand, other strategies were adopted which aimed above all at restructuring the domestic energy system through a voluntaristic policy of promoting domestic energy supply. In these cases, investment in the energy sector was given a high priority, sometimes at the expense of other industrial sectors.



The Effect of Energy Aggregation on Energy Elasticities: Some Evidence from U.S. Manufacturing Data

Sang V. Nguyen and Stephen H. Andrews

Year: 1989
Volume: Volume 10
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No1-13
View Abstract

Abstract:
Measuring energy input plays an important role in many empirical studies, such as analyses of energy demand, efficiency, and productivity. Yet energy is a complex concept and difficult to measure. As a result, energy studies have used energy aggregates constructed based on different aggregation methods. Different aggregates could lead to significantly different results, thus affecting the evaluation of alternative energy policies as well as other economic inferences.



Technological Innovation and a Changing Energy Mix - A Parametric and Flexible Approach to Modeling Ontario Manufacturing

Dean C. Mountain, Bill P. Stipdonk and Cathy J. Warren

Year: 1989
Volume: Volume 10
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No4-9
View Abstract

Abstract:
For the purposes of explaining historical trends in relative fuel usage and energy efficiency, an encompassing framework must incorporate both the influence of changing fuel prices and technological change. Schurr (1982), Rosenberg (1983), Jorgenson (1984, 1986) and Berndt (1986) have provided recent documentation of the importance of these two factors in explaining productivity growth. Moreover, these studies indicate that a key to understanding such trends is analysis at the individual industrial sector level.In ignoring the influence of technological change on interfuel substitution, modern studies (e.g., Gopalakrishnan, 1987; Moghimzadeh and Kymm, 1986) have left unaltered the approach taken in the pioneering studies of Berndt and Wood (1975), Fuss (1977), Griffin and Gregory (1976) and Halvorsen (1977).




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