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Energy and technical progress

Author

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  • Hannon, Bruce
  • Joyce, John

Abstract

When we use the Cobb-Douglas equation to investigate economic growth, we require data on the levels of the capital and labor inputs, and corresponding data on the level of output, at different points in time. We conclude that the inclusion of energy in the standard Cobb Douglas production function does not explain the contribution of technological process (Hicks-neutral) to a rise in the rate of output unless, possibly, one is able to make the seemingly unreasonable assumption that labor should not appear in the production function.

Suggested Citation

  • Hannon, Bruce & Joyce, John, 1981. "Energy and technical progress," Energy, Elsevier, vol. 6(2), pages 187-195.
    • Handle: RePEc:eee:energy:v:6:y:1981:i:2:p:187-195
    DOI: 10.1016/0360-5442(81)90138-9
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    Cited by:

    1. Marco Sakai & Paul E. Brockway & John R. Barrett & Peter G. Taylor, 2018. "Thermodynamic Efficiency Gains and their Role as a Key ‘Engine of Economic Growth’," Energies, MDPI, vol. 12(1), pages 1-14, December.
    2. Ayres, Robert U. & Warr, Benjamin, 2005. "Accounting for growth: the role of physical work," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 181-209, June.
    3. Zhang, Qianxiao & Shah, Syed Ale Raza & Yang, Ling, 2022. "An Appreciated Response of Disaggregated Energies Consumption towards the Sustainable Growth: A debate on G-10 Economies," Energy, Elsevier, vol. 254(PA).
    4. Streimikiene, Dalia & Kasperowicz, Rafał, 2016. "Review of economic growth and energy consumption: A panel cointegration analysis for EU countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 1545-1549.
    5. Ayres, Robert U, 2001. "The minimum complexity of endogenous growth models:," Energy, Elsevier, vol. 26(9), pages 817-838.
    6. Blair Fix, 2019. "The Aggregation Problem: Implications for Ecological and Biophysical Economics," Biophysical Economics and Resource Quality, Springer, vol. 4(1), pages 1-15, March.
    7. Fix, Blair, 2020. "Can the World Get Along Without Natural Resources?," SocArXiv hp5w4, Center for Open Science.
    8. Nela Vlahinic & Pavle Jakovac, 2014. "Revisiting the Energy Consumption-Growth Nexus for Croatia: New Evidence from a Multivariate Framework Analysis," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 8(4), December.
    9. Fix, Blair, 2020. "Can the world get along without natural resources?," Working Papers on Capital as Power 2020/05, Capital As Power - Toward a New Cosmology of Capitalism.
    10. Paul E. Brockway & Matthew K. Heun & João Santos & John R. Barrett, 2017. "Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation," Energies, MDPI, vol. 10(2), pages 1-23, February.
    11. Ayres, Robert U., 1998. "Eco-thermodynamics: economics and the second law," Ecological Economics, Elsevier, vol. 26(2), pages 189-209, August.
    12. Oscar Gonzalo Manrique-Díaz & Diego Fernando Lemus-Polanía, 2020. "Nonlinear optimization method for quantifying the contribution of electricity in the Colombian economic growth, 1925-1997," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 93, pages 65-100, Julio-Dic.
    13. Rafał Kasperowicz & Yuriy Bilan & Dalia Štreimikienė, 2020. "The renewable energy and economic growth nexus in European countries," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(5), pages 1086-1093, September.

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