经济学院2017年第三十五次学术研讨会——宏观经济学系列学术研讨会（五）

主讲人：钱铁峰助理教授 中央财经大学国际经济与贸易学院

题 目：Identifying the Energy Saving Technical Change in the U.S. Manufacturing Sector

时 间：2017年10月12日（周四）晚上19:00

地 点：经济学院402会议室

论文摘要：This paper studies energy-saving technological change in U.S. manufacturing sector, whose intensive margin and extensive margins are identified. We find that energy and capital are mostly complementary to each other, while labor is substitutive to energy-capital composite. However, a Cobb-Douglas nesting of labor is rejected. Quantitative exercise shows that in the post-crisis period, within in industry energy-saving technological change accounts for the largest proportion of the aggregate sectoral energy efficiency promotion in the long run. In contrast, in the short run, factor adjustment combined with sectoral shift accounts for the largest proportion of energy intensity reduction. We provide evidence that structural change has taken place around the oil crisis in 1970s, which is consistent with the existing literature.