Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries
To assess how capital stocks adapt to energy price changes, it is necessary to account for the impacts on different vintages of capital and to account separately for price-induced and autonomous improvements in the energy efficiency of capital stoc...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/19696243/assessing-energy-price-induced-improvements-efficiency-capital-oecd-manufacturing-industries http://hdl.handle.net/10986/18809 |
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okr-10986-18809 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGRICULTURE APPROACH ASSETS AVAILABILITY AVERAGE PRICE BARRIERS TO ENERGY EFFICIENCY BASE YEAR BOILER CAPITAL ADJUSTMENT CAPITAL SERVICES CAPITAL STOCKS CAPITAL STRUCTURE CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CARBON PRICE CARBON TAX CLIMATE CLIMATE CHANGE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICIES CLIMATE POLICIES CLIMATE POLICY COAL COMMERCE COMMODITY PRICES COMPETITIVE PRODUCT COMPETITIVENESS CONSUMERS CONSUMPTION OF ENERGY CRUDE OIL CRUDE OIL PRICE DEFLATORS DEMAND ANALYSIS DEMAND ELASTICITY DEMAND FOR ENERGY DEMAND RESPONSE DERIVED DEMAND DEVELOPMENT POLICY DIESEL DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMETRICS ECONOMIC ANALYSIS ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC MODELS ECONOMIC THEORY ECONOMICS ECONOMICS LITERATURE ECONOMY POLICY EFFICIENCY IMPROVEMENT EFFICIENCY IMPROVEMENTS ELECTRICITY EMISSION ENDOGENOUS VARIABLES ENERGY CARRIER ENERGY CARRIERS ENERGY CONSUMPTION ENERGY COSTS ENERGY DEMAND ENERGY DEMAND MODEL ENERGY ECONOMICS ENERGY EFFICIENCY ENERGY EFFICIENCY GAP ENERGY EFFICIENCY IMPROVEMENTS ENERGY EXPENDITURE ENERGY INPUT ENERGY INTENSITY ENERGY POLICY ENERGY PRICE ENERGY PRODUCTS ENERGY SAVINGS ENERGY USE ENERGY-SAVING TECHNOLOGIES ENVIRONMENTAL ECONOMICS EQUATIONS EXCHANGE RATES EXPECTED RETURNS EXPECTED VALUE EXPENDITURES EXTERNALITIES FACTOR DEMAND FACTOR PRICES FACTORS OF PRODUCTION FINANCIAL SUPPORT FIXED INPUTS FOSSIL FOSSIL FUEL FOSSIL FUEL CONSUMPTION FOSSIL FUEL EMISSIONS FUEL DEMAND FUEL OIL FUEL PRODUCTS FUELS FUNCTIONAL FORMS GASOLINE GASOLINE PRICES GASOLINE TAX GOVERNMENT PURCHASES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS GREENHOUSE GASES HEATING SYSTEM HIGHER ENERGY PRICES HUMAN CAPITAL IMPROVEMENTS IN ENERGY EFFICIENCY INCOME INPUT PRICES INTEREST RATE INTERNATIONAL COMPETITIVENESS INTERNATIONAL TRADE INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES LABOR MARKETS LIKELIHOOD FUNCTION MARKET BARRIERS MARKET STRUCTURE MONETARY ECONOMICS NATURAL GAS NOMINAL INTEREST RATE OBSOLESCENCE OIL OIL DEMAND OIL EQUIVALENT OPTIMIZATION PATERNALISM PETROCHEMICAL INDUSTRY PETROLEUM PETROLEUM PRODUCTS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO POWER POWER PLANT PRICE CHANGE PRICE CHANGES PRICE ELASTICITY PRICE INCREASE PRICE INCREASES PRICE POLICIES PRODUCT MARKETS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTION INPUTS PRODUCTIVITY PROFIT MAXIMIZATION PURCHASING PURCHASING POWER RANDOM WALK REGULATORY POLICIES RELATIVE PRICES REPUBLIC RESIDENTIAL ENERGY RETURNS TO SCALE SCENARIOS SUBSTITUTE SUBSTITUTES SUBSTITUTION TAX POLICIES THERMAL EFFICIENCY THERMAL SYSTEM TOTAL OUTPUT USE OF CAPITAL VARIABLE COST VARIABLE INPUTS WAGES |
| spellingShingle |
AGRICULTURE APPROACH ASSETS AVAILABILITY AVERAGE PRICE BARRIERS TO ENERGY EFFICIENCY BASE YEAR BOILER CAPITAL ADJUSTMENT CAPITAL SERVICES CAPITAL STOCKS CAPITAL STRUCTURE CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CARBON PRICE CARBON TAX CLIMATE CLIMATE CHANGE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICIES CLIMATE POLICIES CLIMATE POLICY COAL COMMERCE COMMODITY PRICES COMPETITIVE PRODUCT COMPETITIVENESS CONSUMERS CONSUMPTION OF ENERGY CRUDE OIL CRUDE OIL PRICE DEFLATORS DEMAND ANALYSIS DEMAND ELASTICITY DEMAND FOR ENERGY DEMAND RESPONSE DERIVED DEMAND DEVELOPMENT POLICY DIESEL DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMETRICS ECONOMIC ANALYSIS ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC MODELS ECONOMIC THEORY ECONOMICS ECONOMICS LITERATURE ECONOMY POLICY EFFICIENCY IMPROVEMENT EFFICIENCY IMPROVEMENTS ELECTRICITY EMISSION ENDOGENOUS VARIABLES ENERGY CARRIER ENERGY CARRIERS ENERGY CONSUMPTION ENERGY COSTS ENERGY DEMAND ENERGY DEMAND MODEL ENERGY ECONOMICS ENERGY EFFICIENCY ENERGY EFFICIENCY GAP ENERGY EFFICIENCY IMPROVEMENTS ENERGY EXPENDITURE ENERGY INPUT ENERGY INTENSITY ENERGY POLICY ENERGY PRICE ENERGY PRODUCTS ENERGY SAVINGS ENERGY USE ENERGY-SAVING TECHNOLOGIES ENVIRONMENTAL ECONOMICS EQUATIONS EXCHANGE RATES EXPECTED RETURNS EXPECTED VALUE EXPENDITURES EXTERNALITIES FACTOR DEMAND FACTOR PRICES FACTORS OF PRODUCTION FINANCIAL SUPPORT FIXED INPUTS FOSSIL FOSSIL FUEL FOSSIL FUEL CONSUMPTION FOSSIL FUEL EMISSIONS FUEL DEMAND FUEL OIL FUEL PRODUCTS FUELS FUNCTIONAL FORMS GASOLINE GASOLINE PRICES GASOLINE TAX GOVERNMENT PURCHASES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS GREENHOUSE GASES HEATING SYSTEM HIGHER ENERGY PRICES HUMAN CAPITAL IMPROVEMENTS IN ENERGY EFFICIENCY INCOME INPUT PRICES INTEREST RATE INTERNATIONAL COMPETITIVENESS INTERNATIONAL TRADE INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES LABOR MARKETS LIKELIHOOD FUNCTION MARKET BARRIERS MARKET STRUCTURE MONETARY ECONOMICS NATURAL GAS NOMINAL INTEREST RATE OBSOLESCENCE OIL OIL DEMAND OIL EQUIVALENT OPTIMIZATION PATERNALISM PETROCHEMICAL INDUSTRY PETROLEUM PETROLEUM PRODUCTS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO POWER POWER PLANT PRICE CHANGE PRICE CHANGES PRICE ELASTICITY PRICE INCREASE PRICE INCREASES PRICE POLICIES PRODUCT MARKETS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTION INPUTS PRODUCTIVITY PROFIT MAXIMIZATION PURCHASING PURCHASING POWER RANDOM WALK REGULATORY POLICIES RELATIVE PRICES REPUBLIC RESIDENTIAL ENERGY RETURNS TO SCALE SCENARIOS SUBSTITUTE SUBSTITUTES SUBSTITUTION TAX POLICIES THERMAL EFFICIENCY THERMAL SYSTEM TOTAL OUTPUT USE OF CAPITAL VARIABLE COST VARIABLE INPUTS WAGES Steinbuks, Jevgenijs Neuhoff, Karsten Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| relation |
Policy Research Working Paper;No. 6929 |
| description |
To assess how capital stocks adapt to
energy price changes, it is necessary to account for the
impacts on different vintages of capital and to account
separately for price-induced and autonomous improvements in
the energy efficiency of capital stock. The results of
econometric analysis for five manufacturing industries in 19
OECD countries between 1990 and 2005 indicate that higher
energy prices resulted in smaller energy use due to both
improved energy efficiency of capital stock and reduced
demand for the energy input. The investment response to
energy prices varied considerably across manufacturing
industries, being more significant in energy-intensive
sectors. The results of policy simulations indicate that a
carbon tax can deliver significant reductions in energy
consumption in the medium run with modest declines in
energy-using capital stock. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Steinbuks, Jevgenijs Neuhoff, Karsten |
| author_facet |
Steinbuks, Jevgenijs Neuhoff, Karsten |
| author_sort |
Steinbuks, Jevgenijs |
| title |
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| title_short |
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| title_full |
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| title_fullStr |
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| title_full_unstemmed |
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries |
| title_sort |
assessing energy price induced improvements in efficiency of capital in oecd manufacturing industries |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/06/19696243/assessing-energy-price-induced-improvements-efficiency-capital-oecd-manufacturing-industries http://hdl.handle.net/10986/18809 |
| _version_ |
1764442764951420928 |
| spelling |
okr-10986-188092021-04-23T14:03:49Z Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries Steinbuks, Jevgenijs Neuhoff, Karsten AGRICULTURE APPROACH ASSETS AVAILABILITY AVERAGE PRICE BARRIERS TO ENERGY EFFICIENCY BASE YEAR BOILER CAPITAL ADJUSTMENT CAPITAL SERVICES CAPITAL STOCKS CAPITAL STRUCTURE CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CARBON PRICE CARBON TAX CLIMATE CLIMATE CHANGE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICIES CLIMATE POLICIES CLIMATE POLICY COAL COMMERCE COMMODITY PRICES COMPETITIVE PRODUCT COMPETITIVENESS CONSUMERS CONSUMPTION OF ENERGY CRUDE OIL CRUDE OIL PRICE DEFLATORS DEMAND ANALYSIS DEMAND ELASTICITY DEMAND FOR ENERGY DEMAND RESPONSE DERIVED DEMAND DEVELOPMENT POLICY DIESEL DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMETRICS ECONOMIC ANALYSIS ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC MODELS ECONOMIC THEORY ECONOMICS ECONOMICS LITERATURE ECONOMY POLICY EFFICIENCY IMPROVEMENT EFFICIENCY IMPROVEMENTS ELECTRICITY EMISSION ENDOGENOUS VARIABLES ENERGY CARRIER ENERGY CARRIERS ENERGY CONSUMPTION ENERGY COSTS ENERGY DEMAND ENERGY DEMAND MODEL ENERGY ECONOMICS ENERGY EFFICIENCY ENERGY EFFICIENCY GAP ENERGY EFFICIENCY IMPROVEMENTS ENERGY EXPENDITURE ENERGY INPUT ENERGY INTENSITY ENERGY POLICY ENERGY PRICE ENERGY PRODUCTS ENERGY SAVINGS ENERGY USE ENERGY-SAVING TECHNOLOGIES ENVIRONMENTAL ECONOMICS EQUATIONS EXCHANGE RATES EXPECTED RETURNS EXPECTED VALUE EXPENDITURES EXTERNALITIES FACTOR DEMAND FACTOR PRICES FACTORS OF PRODUCTION FINANCIAL SUPPORT FIXED INPUTS FOSSIL FOSSIL FUEL FOSSIL FUEL CONSUMPTION FOSSIL FUEL EMISSIONS FUEL DEMAND FUEL OIL FUEL PRODUCTS FUELS FUNCTIONAL FORMS GASOLINE GASOLINE PRICES GASOLINE TAX GOVERNMENT PURCHASES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS GREENHOUSE GASES HEATING SYSTEM HIGHER ENERGY PRICES HUMAN CAPITAL IMPROVEMENTS IN ENERGY EFFICIENCY INCOME INPUT PRICES INTEREST RATE INTERNATIONAL COMPETITIVENESS INTERNATIONAL TRADE INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES LABOR MARKETS LIKELIHOOD FUNCTION MARKET BARRIERS MARKET STRUCTURE MONETARY ECONOMICS NATURAL GAS NOMINAL INTEREST RATE OBSOLESCENCE OIL OIL DEMAND OIL EQUIVALENT OPTIMIZATION PATERNALISM PETROCHEMICAL INDUSTRY PETROLEUM PETROLEUM PRODUCTS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO POWER POWER PLANT PRICE CHANGE PRICE CHANGES PRICE ELASTICITY PRICE INCREASE PRICE INCREASES PRICE POLICIES PRODUCT MARKETS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTION INPUTS PRODUCTIVITY PROFIT MAXIMIZATION PURCHASING PURCHASING POWER RANDOM WALK REGULATORY POLICIES RELATIVE PRICES REPUBLIC RESIDENTIAL ENERGY RETURNS TO SCALE SCENARIOS SUBSTITUTE SUBSTITUTES SUBSTITUTION TAX POLICIES THERMAL EFFICIENCY THERMAL SYSTEM TOTAL OUTPUT USE OF CAPITAL VARIABLE COST VARIABLE INPUTS WAGES To assess how capital stocks adapt to energy price changes, it is necessary to account for the impacts on different vintages of capital and to account separately for price-induced and autonomous improvements in the energy efficiency of capital stock. The results of econometric analysis for five manufacturing industries in 19 OECD countries between 1990 and 2005 indicate that higher energy prices resulted in smaller energy use due to both improved energy efficiency of capital stock and reduced demand for the energy input. The investment response to energy prices varied considerably across manufacturing industries, being more significant in energy-intensive sectors. The results of policy simulations indicate that a carbon tax can deliver significant reductions in energy consumption in the medium run with modest declines in energy-using capital stock. 2014-06-26T22:27:21Z 2014-06-26T22:27:21Z 2014-06 http://documents.worldbank.org/curated/en/2014/06/19696243/assessing-energy-price-induced-improvements-efficiency-capital-oecd-manufacturing-industries http://hdl.handle.net/10986/18809 English en_US Policy Research Working Paper;No. 6929 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |