mentioned discrepancies between output elasticities and cost shares (Kümmel et al., 2002). These discrepancies simply reflect technological restrictions, i.e. limits to factor input substitutability. References Aghion, Philippe, and Peter Howitt. 1998. Cambridge MA: The MIT Endogenous growth theory. Press. Allen, Edward L., and et al. 1976. US energy and economic growth, 1975-2010. Oak Ridge TN: Oak Ridge Associated Universities Institute for Energy Analysis. Arrow, Kenneth J., H. B. Chenery, B. S. Minhas, and Robert M. Solow. 1961. Capital-labor substitution and economic efficiency. 43 (August): Review of Economics and Statistics Ayres, Robert U., and Benjamin S. Warr. 2005. Accounting for growth: The role of physical work. 16 (2): 181-209. Structural Change and Economic Dynamics Ayres, Robert U., and Benjamin S. Warr. 2009. Energy efficiency and economic growth: The "rebound effect" as a driver. In: edited by H. Energy Efficiency and Sustainable Consumption, Herring and S. Sorrell. London: Palgrave Macmillan. Robert U., and Benjamin S. Warr. 2009. The economic growth engine: How energy and work Cheltenham, UK and Northampton MA, US: Edward Elgar drive material prosperity. Publishing. Barnett, Harold J., and Chandler Morse. 1963. Scarcity and growth: The economics of resource Baltimore MD: Johns Hopkins University Press. scarcity. Barro, Robert J., and Xavier Sala-i-Martin. 2003. 2nd Edition. The MIT Press, Economic growth. Cambridge. MA. Berndt, Ernst R., and David O. Wood. 1979. Engineering and econometric interpretations of energy-capital complementarity. 69 (3): 342-354. American Economic Review Daly, Herman E., and John Cobb. 1989. Boston MA: Beacon Press. For the common good. d'Arge and Kogiku (1973). Economic growth and the environment. Review of Economic Studies 15(1): 61-77. de Mooij, R.A. (1999). The double dividend of an environmental tax reform. Chapter 20 in: J.C.J.M. van den Bergh (ed.). Edward Handbook of Environmental and Resource Economics. Elgar, Cheltenham.
mentioned discrepancies between output elasticities and cost shares (Kümmel et al., 2002). These discrepancies simply reflect technological restrictions, i.e. limits to factor input substitutability. References Aghion, Philippe, and Peter Howitt. 1998. Endogenous growth theory. Cambridge MA: The MIT Press. Allen, Edward L., and et al. 1976. US energy and economic growth, 1975-2010. Oak Ridge TN: Oak Ridge Associated Universities Institute for Energy Analysis. Arrow, Kenneth J., H. B. Chenery, B. S. Minhas, and Robert M. Solow. 1961. Capital-labor substitution and economic efficiency. Review of Economics and Statistics 43 (August): Ayres, Robert U., and Benjamin S. Warr. 2005. Accounting for growth: The role of physical work. Structural Change and Economic Dynamics 16 (2): 181-209. Ayres, Robert U., and Benjamin S. Warr. 2009. Energy efficiency and economic growth: The "rebound effect" as a driver. In: Energy Efficiency and Sustainable Consumption, edited by H. Herring and S. Sorrell. London: Palgrave Macmillan. Robert U., and Benjamin S. Warr. 2009. The economic growth engine: How energy and work drive material prosperity. Cheltenham, UK and Northampton MA, US: Edward Elgar Publishing. Barnett, Harold J., and Chandler Morse. 1963. Scarcity and growth: The economics of resource scarcity. Baltimore MD: Johns Hopkins University Press. Barro, Robert J., and Xavier Sala-i-Martin. 2003. Economic growth. 2nd Edition. The MIT Press, Cambridge. MA. Berndt, Ernst R., and David O. Wood. 1979. Engineering and econometric interpretations of energy-capital complementarity. American Economic Review 69 (3): 342-354. Daly, Herman E., and John Cobb. 1989. For the common good. Boston MA: Beacon Press. d'Arge and Kogiku (1973). Economic growth and the environment. Review of Economic Studies 15(1): 61-77. de Mooij, R.A. (1999). The double dividend of an environmental tax reform. Chapter 20 in: J.C.J.M. van den Bergh (ed.). Handbook of Environmental and Resource Economics. Edward Elgar, Cheltenham.
AYRES_The-Underestimated-Contribution-of-Energy-to-Economic-Growth-J-Macroeconomics-JEROEN-Copy.docx