The Empirical Assessment of Technology Differences: Comparing the Comparable


Frondel, Manuel ; Schmidt, Christoph M.


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URL: http://ub-madoc.bib.uni-mannheim.de/382
URN: urn:nbn:de:bsz:180-madoc-3826
Document Type: Working paper
Year of publication: 2002
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C3 D2 ,
Subject headings (SWD): Ölkrise , Energiepreis / Preisänderung , Substitution
Abstract: This paper compares technologies across space and time on the basis of factual and counterfactual substitution elasticities and argues that differences in estimated substitution elasticities should be decomposed into two counterfactual components. While the first component is designed to indicate how the ease of substitution is altered by varied economic circumstances, the second addresses the question of how technologies would compare under genuinely comparable situations. This argument is illustrated by the example of energy-price elasticities of capital before and after the oil crisis of the early 1970s.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Frondel, Manuel ; Schmidt, Christoph M. (2002) The Empirical Assessment of Technology Differences: Comparing the Comparable. Open Access [Working paper]
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