Sensitivity Theory and its Application to a Large Energy Model
Article Abstract:
A large amount of data is needed to effectively use energy-economic models. To determine the most important data, the data elements can be varied and the model rerun. This method is prohibitive unless computing time for each variation is very short. A nonlinear equation of sensitivity analysis is discussed and applied to a large energy-economics model. Numerical results are presented and compared against direct calculations. Network diagrams showing an overall model and the oil-gas sector of LEAP-78 are included. LEAP-78 is a complex energy-economics model.
Publication Name: Operations Research
Subject: Petroleum, energy and mining industries
ISSN: 0030-364X
Year: 1983
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Cointegration tests of energy consumption, income, and employment
Article Abstract:
A special methodology of the cointegration test was used to investigate whether energy consumption has a long-run equilibrium relationship with the level of income or employment. However, it is shown that no such relationship exists, for no variable cointegration was found throughout the entire sample period. This was further proven when the sample was split into two sub-periods to analyze the significance of oil price shocks. This conclusion of long-run neutrality, which assumed seasonally unadjusted series, dovetails with previous research.
Publication Name: Resources and Energy
Subject: Petroleum, energy and mining industries
ISSN: 0165-0572
Year: 1992
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Energy, capital and technological change in the United States
Article Abstract:
The impact of capital-labor substitution, energy-labor substitution and technological innovations on labor productivity growth is analyzed. Aggregate production functions were specified and measured for the analysis. In the US, energy and capital replacement of labor from 1950-1973 increased GNP per hour at a 2.5% annual rate. However, energy price shocks after 1973 negated the increases. Reduced energy intensity contributed to slow productivity growth.
Publication Name: Resources and Energy
Subject: Petroleum, energy and mining industries
ISSN: 0165-0572
Year: 1992
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