With the availability of input-output data for 1977, it is possible to analyze the short run effects of the 1974 energy price increase as well as other factors on the energy efficiency of the industries of the economy. Such an analysis is conducted here using a number of measures derived through the energy input-output model. Attention is focused on patterns of energy use, changes in energy intensities through time, and the factors which underlie these changes. A specific measure of the degree to which energy substitution is attributable to changes in direct and indirect energy requirements is developed and estimated. Results show that large changes in the economy's overall industrial energy requirements are not observed between 1963 and 1977. However, for individual fuels large changes in intensity values are not at all uncommon among industries.
ASJC Scopus subject areas
- Economics and Econometrics
- Management, Monitoring, Policy and Law