Publication:
Assessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries

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dc.contributor.authorSteinbuks, Jevgenijs
dc.contributor.authorNeuhoff, Karsten
dc.date.accessioned2014-06-26T22:27:21Z
dc.date.available2014-06-26T22:27:21Z
dc.date.issued2014-06
dc.description.abstractTo 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/06/19696243/assessing-energy-price-induced-improvements-efficiency-capital-oecd-manufacturing-industries
dc.identifier.doi10.1596/1813-9450-6929
dc.identifier.urihttps://hdl.handle.net/10986/18809
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6929
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGRICULTURE
dc.subjectAPPROACH
dc.subjectASSETS
dc.subjectAVAILABILITY
dc.subjectAVERAGE PRICE
dc.subjectBARRIERS TO ENERGY EFFICIENCY
dc.subjectBASE YEAR
dc.subjectBOILER
dc.subjectCAPITAL ADJUSTMENT
dc.subjectCAPITAL SERVICES
dc.subjectCAPITAL STOCKS
dc.subjectCAPITAL STRUCTURE
dc.subjectCARBON DIOXIDE
dc.subjectCARBON DIOXIDE EMISSIONS
dc.subjectCARBON PRICE
dc.subjectCARBON TAX
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCLIMATE CHANGE MITIGATION
dc.subjectCLIMATE CHANGE POLICIES
dc.subjectCLIMATE POLICIES
dc.subjectCLIMATE POLICY
dc.subjectCOAL
dc.subjectCOMMERCE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITIVE PRODUCT
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCONSUMPTION OF ENERGY
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL PRICE
dc.subjectDEFLATORS
dc.subjectDEMAND ANALYSIS
dc.subjectDEMAND ELASTICITY
dc.subjectDEMAND FOR ENERGY
dc.subjectDEMAND RESPONSE
dc.subjectDERIVED DEMAND
dc.subjectDEVELOPMENT POLICY
dc.subjectDIESEL
dc.subjectDISCOUNT RATE
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMETRIC MODELS
dc.subjectECONOMETRICS
dc.subjectECONOMIC ANALYSIS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPLICATIONS
dc.subjectECONOMIC MODELS
dc.subjectECONOMIC THEORY
dc.subjectECONOMICS
dc.subjectECONOMICS LITERATURE
dc.subjectECONOMY POLICY
dc.subjectEFFICIENCY IMPROVEMENT
dc.subjectEFFICIENCY IMPROVEMENTS
dc.subjectELECTRICITY
dc.subjectEMISSION
dc.subjectENDOGENOUS VARIABLES
dc.subjectENERGY CARRIER
dc.subjectENERGY CARRIERS
dc.subjectENERGY CONSUMPTION
dc.subjectENERGY COSTS
dc.subjectENERGY DEMAND
dc.subjectENERGY DEMAND MODEL
dc.subjectENERGY ECONOMICS
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY EFFICIENCY GAP
dc.subjectENERGY EFFICIENCY IMPROVEMENTS
dc.subjectENERGY EXPENDITURE
dc.subjectENERGY INPUT
dc.subjectENERGY INTENSITY
dc.subjectENERGY POLICY
dc.subjectENERGY PRICE
dc.subjectENERGY PRODUCTS
dc.subjectENERGY SAVINGS
dc.subjectENERGY USE
dc.subjectENERGY-SAVING TECHNOLOGIES
dc.subjectENVIRONMENTAL ECONOMICS
dc.subjectEQUATIONS
dc.subjectEXCHANGE RATES
dc.subjectEXPECTED RETURNS
dc.subjectEXPECTED VALUE
dc.subjectEXPENDITURES
dc.subjectEXTERNALITIES
dc.subjectFACTOR DEMAND
dc.subjectFACTOR PRICES
dc.subjectFACTORS OF PRODUCTION
dc.subjectFINANCIAL SUPPORT
dc.subjectFIXED INPUTS
dc.subjectFOSSIL
dc.subjectFOSSIL FUEL
dc.subjectFOSSIL FUEL CONSUMPTION
dc.subjectFOSSIL FUEL EMISSIONS
dc.subjectFUEL DEMAND
dc.subjectFUEL OIL
dc.subjectFUEL PRODUCTS
dc.subjectFUELS
dc.subjectFUNCTIONAL FORMS
dc.subjectGASOLINE
dc.subjectGASOLINE PRICES
dc.subjectGASOLINE TAX
dc.subjectGOVERNMENT PURCHASES
dc.subjectGREENHOUSE GAS
dc.subjectGREENHOUSE GAS EMISSIONS
dc.subjectGREENHOUSE GASES
dc.subjectHEATING SYSTEM
dc.subjectHIGHER ENERGY PRICES
dc.subjectHUMAN CAPITAL
dc.subjectIMPROVEMENTS IN ENERGY EFFICIENCY
dc.subjectINCOME
dc.subjectINPUT PRICES
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL COMPETITIVENESS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectLABOR MARKETS
dc.subjectLIKELIHOOD FUNCTION
dc.subjectMARKET BARRIERS
dc.subjectMARKET STRUCTURE
dc.subjectMONETARY ECONOMICS
dc.subjectNATURAL GAS
dc.subjectNOMINAL INTEREST RATE
dc.subjectOBSOLESCENCE
dc.subjectOIL
dc.subjectOIL DEMAND
dc.subjectOIL EQUIVALENT
dc.subjectOPTIMIZATION
dc.subjectPATERNALISM
dc.subjectPETROCHEMICAL INDUSTRY
dc.subjectPETROLEUM
dc.subjectPETROLEUM PRODUCTS
dc.subjectPOLICY MAKERS
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPOWER
dc.subjectPOWER PLANT
dc.subjectPRICE CHANGE
dc.subjectPRICE CHANGES
dc.subjectPRICE ELASTICITY
dc.subjectPRICE INCREASE
dc.subjectPRICE INCREASES
dc.subjectPRICE POLICIES
dc.subjectPRODUCT MARKETS
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTION FUNCTIONS
dc.subjectPRODUCTION INPUTS
dc.subjectPRODUCTIVITY
dc.subjectPROFIT MAXIMIZATION
dc.subjectPURCHASING
dc.subjectPURCHASING POWER
dc.subjectRANDOM WALK
dc.subjectREGULATORY POLICIES
dc.subjectRELATIVE PRICES
dc.subjectREPUBLIC
dc.subjectRESIDENTIAL ENERGY
dc.subjectRETURNS TO SCALE
dc.subjectSCENARIOS
dc.subjectSUBSTITUTE
dc.subjectSUBSTITUTES
dc.subjectSUBSTITUTION
dc.subjectTAX POLICIES
dc.subjectTHERMAL EFFICIENCY
dc.subjectTHERMAL SYSTEM
dc.subjectTOTAL OUTPUT
dc.subjectUSE OF CAPITAL
dc.subjectVARIABLE COST
dc.subjectVARIABLE INPUTS
dc.subjectWAGES
dc.titleAssessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industriesen
dspace.entity.typePublication
okr.crosscuttingsolutionareaClimate Change
okr.crossref.titleAssessing Energy Price Induced Improvements in Efficiency of Capital in OECD Manufacturing Industries
okr.date.disclosure2014-06-01
okr.date.doiregistration2025-04-10T11:18:32.282540Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2014/06/19696243/assessing-energy-price-induced-improvements-efficiency-capital-oecd-manufacturing-industries
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeEnergy and Extractives
okr.guid687581468148165801
okr.identifier.doi10.1596/1813-9450-6929
okr.identifier.externaldocumentum000158349_20140618135032
okr.identifier.internaldocumentum19696243
okr.identifier.reportWPS6929
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/06/18/000158349_20140618135032/Rendered/PDF/WPS6929.pdfen
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicEnergy::Energy Production and Transportation
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.unitEnvironment and Energy Team, Development Research Group (DECEE)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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