Decomposition of US manufacturing energy intensity and elasticities of components with respect to energy prices
François Lescaroux ()
Energy Economics, 2008, vol. 30, issue 3, 1068-1080
This paper proposes an analysis of changes in the US manufacturing energy intensity between 1974 and 1998. The starting point is a three-term decomposition of an intensity index which evaluates annually the respective contributions of changes in industrial structure, efficiency gains at the sectoral level and substitution between energy resources to aggregate productivity improvements. Then, we study the time paths followed by each of these three components: using spectral analysis techniques, we show that they behave very differently as the structural influence plays a part mainly in the short-run, substitution between energy resources acts principally in the long-run and the changes in sectoral intensity cause both trend-variations and cyclical ones. Finally, we focus on the effect of energy price evolution on each of the three components. Allowing energy price rises and decreases to have asymmetric effects, we estimate both the long-run impacts and the short-run adjustments.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:30:y:2008:i:3:p:1068-1080
Access Statistics for this article
Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant
More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().