Costly capital reallocation and energy use

In time series data, energy use does not change much with energy price changes. However, energy use is responsive to international differences in energy prices in cross-section data across countries. In this paper we consider a model of energy use in which production takes place at individual plants...

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Detalhes bibliográficos
Autores: Díaz Rodríguez, Antonia, Puch González, Luis Antonio, Guilló, María D.
Formato: informe técnico
Fecha de publicación:2001
País:España
Recursos:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/64470
Acesso em linha:https://hdl.handle.net/20.500.14352/64470
Access Level:acceso abierto
Palavra-chave:E22
E23
Q43
Uso de la Energía
Precio
Energy price
Energy use
Costly capital reallocation
Number of plants
Economía industrial
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spelling Costly capital reallocation and energy useDíaz Rodríguez, AntoniaPuch González, Luis AntonioGuilló, María D.E22E23Q43Uso de la EnergíaPrecioEnergy priceEnergy useCostly capital reallocationNumber of plantsEconomía industrialIn time series data, energy use does not change much with energy price changes. However, energy use is responsive to international differences in energy prices in cross-section data across countries. In this paper we consider a model of energy use in which production takes place at individual plants and capital can be used either to directly produce output or to reduce the energy required to run the planto We assume that reallocating capital from one use to another is costly. This turns out to be crucial for the quantitative properties of the model to be in conformity with the low short-mn and high long-run elasticities of energy use seen in data. Furthermore, our model displays variations in capacity utilization that are in line with those observed during the period of major oil price increases.Instituto Complutense de Análisis Económico. Universidad Complutense de MadridUniversidad Complutense de Madrid20012001-01-0120012001-01-01technical reporthttp://purl.org/coar/resource_type/c_18ghinfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/64470reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/644702026-06-02T12:44:21Z
dc.title.none.fl_str_mv Costly capital reallocation and energy use
title Costly capital reallocation and energy use
spellingShingle Costly capital reallocation and energy use
Díaz Rodríguez, Antonia
E22
E23
Q43
Uso de la Energía
Precio
Energy price
Energy use
Costly capital reallocation
Number of plants
Economía industrial
title_short Costly capital reallocation and energy use
title_full Costly capital reallocation and energy use
title_fullStr Costly capital reallocation and energy use
title_full_unstemmed Costly capital reallocation and energy use
title_sort Costly capital reallocation and energy use
dc.creator.none.fl_str_mv Díaz Rodríguez, Antonia
Puch González, Luis Antonio
Guilló, María D.
author Díaz Rodríguez, Antonia
author_facet Díaz Rodríguez, Antonia
Puch González, Luis Antonio
Guilló, María D.
author_role author
author2 Puch González, Luis Antonio
Guilló, María D.
author2_role author
author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv E22
E23
Q43
Uso de la Energía
Precio
Energy price
Energy use
Costly capital reallocation
Number of plants
Economía industrial
topic E22
E23
Q43
Uso de la Energía
Precio
Energy price
Energy use
Costly capital reallocation
Number of plants
Economía industrial
description In time series data, energy use does not change much with energy price changes. However, energy use is responsive to international differences in energy prices in cross-section data across countries. In this paper we consider a model of energy use in which production takes place at individual plants and capital can be used either to directly produce output or to reduce the energy required to run the planto We assume that reallocating capital from one use to another is costly. This turns out to be crucial for the quantitative properties of the model to be in conformity with the low short-mn and high long-run elasticities of energy use seen in data. Furthermore, our model displays variations in capacity utilization that are in line with those observed during the period of major oil price increases.
publishDate 2001
dc.date.none.fl_str_mv 2001
2001-01-01
2001
2001-01-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/64470
url https://hdl.handle.net/20.500.14352/64470
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
publisher.none.fl_str_mv Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.198674

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