Net energy analysis in a Ramsey-Hotelling growth model

Arturo Macías () and Mariano Matilla-García
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Arturo Macías: Banco de España

No 1217, Working Papers from Banco de España

Abstract: This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). To our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), setting the economic use of “net energy analysis” on firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented.

Keywords: EROI; net energy analysis; growth; Ramsey-Hotelling; energy depletion (search for similar items in EconPapers)
JEL-codes: O13 Q00 Q43 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2012-03
New Economics Papers: this item is included in nep-ene and nep-env
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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... /12/Fich/dt1217e.pdf First version, March 2012 (application/pdf)

Related works:
Journal Article: Net energy analysis in a Ramsey–Hotelling growth model (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1217

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