Journal
ENERGY ECONOMICS
Volume 26, Issue 1, Pages 123-134Publisher
ELSEVIER
DOI: 10.1016/S0140-9883(03)00047-1
Keywords
rebound effect; translog cost function; dynamic OLS method; US manufacturing energy consumption
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The energy price shocks of the 1970s are usually assumed to have increased the search for new energy saving technologies where eventual gains in energy efficiencies will reduce the real per unit price-of energy services and hence, the consumption of energy will rise and partially offset the initial reduction in the usage of energy sources. This is the 'rebound effect', which is estimated for the US manufacturing sector using time series data applying the dynamic OLS method (DOLS). When allowing for asymmetric price effects the rebound effect is found to be approximately 24% for the US manufacturing sector. (C) 2003 Elsevier Science B.V. All rights reserved.
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