日時：11月22日（金）17:20-18:50
報告者： Julian Salg  (Goethe University Frankfurt)
場所：2号館11階経済学部会議室B & ZOOM (HyFlex)
幹事：樋口裕城 & Matthias Schlegl
言語：英語
タイトル：Energy substitution, biased technical change and the economy-wide energy rebound: A comparison of Japan and the United States (with Rainer Klump)
要旨：There are two key challenges to a decoupling of economic growth from energy demand: long-term decelerating energy savings in technical progress and a significant economy-wide rebound effect. The latter comprises a feedback mechanism of energy into the economic system (substitution- and output effects) triggered by energy-augmenting technical progress and relative price changes of energy. We investigate both phenomena by identifying the unobservable long-term supply side characteristics in the U.S. and Japan’s aggregate economy between 1978 and 2019. We estimate a normalized and energy-extended gross output production function of CES type that incorporates capital and labor as a composite input of primary factors and final energy as an intermediate factor of gross output production. Making use of the Klump et al. (2007a) normalized “supply-side-system approach” we simultaneously identify the energy substitution elasticity and time-varying (Box-Cox-transformed) factor augmenting technical progress.

*オンラインでの参加をご希望の方は、幹事にメールなどでご相談ください。また、今後のセミナー情報などについてはセミナーのウェブページもご覧ください。