Models of energy use: putty-putty versus putty-clay

Article Abstract:

A study was conducted on the energy use and energy prices using the Pindyck-Rotemberg "putty-putty" model and the putty-clay model. Results showed that both models have different capital and output response to differences in energy prices. The putty-putty model energy use is not highly affected by the energy price changes. While the putty-clay model energy use is affected by the international differences in energy prices.

Models, Energy economics, Energy consumption

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Modeling the transition to a new economy: lessons from two technological revolutions

Article Abstract:

The transition to a new economy brought about by the Second Industrial Revolution from 1860 until 1900 and the Information Technology Revolution is analyzed through the use of a technology diffusion and growth model. Rise in technical changes characterized by a productivity paradox, slow technological diffusion and sustained investments in old technologies mark the post-revolutionary transition period.

Goods & services distribution, Channels of Distribution, Influence, Technological innovations, Distribution, Growth, Industry, Industrial Revolution, ca. 1750-1900, Diffusion of innovations, Company distribution practices, Company growth

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Deflation and depression: is there an empirical link?

Article Abstract:

The relation between depression and deflation and the role of monetary policy for such situation is discussed. The panel data of 17 countries is used for the study.

Monetary policy, Deflation (Finance), Deflation (Economics), Depressions, Economic depressions

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