Resource title

The empirical assessment of technology differences: comparing the comparable

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Resource description

This paper compares technologies across space and time on the basis of factual and counterfactual substitution elasticities and argues that differences in estimated substitution elasticities should be decomposed into two counterfactual components. While the first component is designed to indicate how the ease of substitution is altered by varied economic circumstances, the second addresses the question of how technologies would compare under genuinely comparable situations. This argument is illustrated by the example of energy-price elasticities of capital before and after the oil crisis of the early 1970s.

Resource author

Christoph M. Schmidt, Manuel Frondel

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/24542

Resource license

Adapt according to the presented license agreement and reference the original author.