Technical progress and energy dependent production functions

Kümmel, Reiner; Strassl, Wolfgang; Gossner, Alfred; Eichhorn, Wolfgang

doi:10.1007/bf01282565

Cited by 56 publications

(46 citation statements)

References 9 publications

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“…Including the constraint equations (7) and (20) in the maximization of welfare (19) with the help of the Lagrange multipliers µ a and µ we have the optimization problem: Maximize…”

Section: Overall Welfare Maximizationmentioning

confidence: 99%

“…(6) one can write γ = 1 − α − β, these equations become [16,18,20] l ∂α ∂l = k ∂β ∂k , k ∂α ∂k + l ∂α ∂l + e ∂α ∂e = 0, k ∂β ∂k + l ∂β ∂l + e ∂β ∂e = 0.…”

Section: Computing Output Elasticitiesmentioning

confidence: 99%

“…Various methods have been used in order to determine the parameters a, c and y 0 [11,20,27]. Already the simplest case of fitting the Linex function with three constant parameters to the empirical time series of output reproduces the general trend of economic growth, and one obtains output elasticities for capital, labor and energy that are of the same order of magnitude as the ones in Table 2.…”

Section: Computing Output Elasticitiesmentioning

confidence: 99%

“…The statistical quality measures R 2 and d W show that there are only marginal deviations of the theoretical growth curves from the empirical ones. 12 We note that improving the modeling of the explicit ("creativity-induced") time dependence of the Linex production function by Taylor series and/or logistics for the technology parameters a(t) and c(t) does not change the findings from less sophisticated fitting procedures [11], [20,27], [48]: the output elasticity of energy is much larger than its small cost share of roughly 5 percent. Cointegration analysis of output, capital, labor, and energy [49] confirms the output elasticities of k, l, e in Table 2.…”

Section: Computing Output Elasticitiesmentioning

confidence: 99%

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Thermodynamic laws, economic methods and the productive power of energy

Kümmel¹,

Ayres

Lindenberger

2010

Journal of Non-Equilibrium Thermodynamics

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Energy plays only a minor role in orthodox theories of economic growth, because standard economic equilibrium conditions say that the output elasticity of a production factor, which measures the factor's productive power, is equal to the factor's share in total factor cost. Having commanded only a tiny cost share of about 5 percent so far, energy is often neglected altogether. On the other hand, energy conversion in the machines of the capital stock has been the basis of industrial growth. How can the physically obvious economic importance of energy be reconciled with the conditions for economic equilibrium, which result from the maximization of profit or overall welfare? We show that these equilibrium conditions no longer yield the equality of cost shares and output elasticities, if the optimization calculus takes technological constraints on the combinations of capital, labor and energy into account. New econometric analyses of economic growth in Germany, Japan and the USA yield output elasticities that are for energy much larger and for labor much smaller than their cost shares. Social consequences are discussed.

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“…Including the constraint equations (7) and (20) in the maximization of welfare (19) with the help of the Lagrange multipliers µ a and µ we have the optimization problem: Maximize…”

Section: Overall Welfare Maximizationmentioning

confidence: 99%

Section: Computing Output Elasticitiesmentioning

confidence: 99%

Section: Computing Output Elasticitiesmentioning

confidence: 99%

Section: Computing Output Elasticitiesmentioning

confidence: 99%

See 2 more Smart Citations

Thermodynamic laws, economic methods and the productive power of energy

Kümmel¹,

Ayres

Lindenberger

2010

Journal of Non-Equilibrium Thermodynamics

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“…The methodological approach has been applied previously to derive production functions modeling industrial evolution (Kümmel et al 1985(Kümmel et al , 2002. The approach takes into account the production factor energy, which enables to incorporate potential progress of automation, i.e.…”

Section: Introductionmentioning

confidence: 99%

Service Production Functions

Lindenberger

2003

J. Econ.

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The paper derives production functions designed to model the evolution of service industries. The derivation is based on specifying the output elasticities of the factors according to differential equations and asymptotic technological boundary conditions in factor space. The derived functional forms incorporate labor, capital, energy, and technological parameters, whose time changes model innovation and structural change. The model is applied to the evolution of the German market-determined services 1960-1989. Terms of use: Documents in EconStor may

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Energie, Wirtschaftswachstum und technischer Fortschritt

Kümmel¹,

Lindenberger²,

Eichhorn³

1997

Phys. Bl.

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Das Wachstum industrieller Wertschopfung in den USA, Japan und Deutschland wahrend dreier Dekaden wird okonometrisch beschrieben. Dabei tritt die Energie den Produktionsfaktoren Kapital und Arbeit als gleichberechtigter Partner zur Seite. Man erhalt gute Ubereinstimmung zwischen Theorie und Empirie, auch und gerade in den Rezessionszeiten nach der ersten und der zweiten Olpreisexplosion, indem man die relativen Beitrage der Produktionsfaktoren zur Wertschopfung technologisch-empirisch bestimmt und nicht, wie sonst ublich, den jeweiligen Kostenanteilen gleichsetzt. Die sog. Produktionselastizitiit der Energie, d. h.grob gesagtder prozentuale Zuwachs der Wertschopfung bei einprozentigem Zuwachs des Energieeinsatzes, ist im zeitlichen Mittel rnit rund 0,5 in etwa so groB wie die entsprechenden Elastizitiiten von Kapital und Arbeit zusammen. Auf diese Weise wird ein wesentlicher Teil des mit wachsender Automation verbundenen technischen Fortschritts erfallt. Die zweite Komponente technischen.. Fortschritts zeigt sich in zeitweiligen Anderungen der im Modell auftretenden Technologieparameter, die auf deutliche Effizienzverbesserungen der Energieumwandlungstechniken nach der ersten Olpreisexplosion hinweisen. Zwei zukunftige Entwicklungspfade, rnit energietechnischen Innovationen und ohne, werden diskutiert.

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Technical progress and energy dependent production functions

Cited by 56 publications

References 9 publications

Thermodynamic laws, economic methods and the productive power of energy

Thermodynamic laws, economic methods and the productive power of energy

Service Production Functions

Energie, Wirtschaftswachstum und technischer Fortschritt

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