Abstract
The equation of growth relates the growth of output Q to the growth of the production factors capital K, labor L, and energy flow E. It can be solved in zero order approximation with respect to time, if one assumes that the characteristic properties of the industrial system are not changed by human creativity and that the economy is far from its thermodynamic limits to growth. Then Q must be a unique function of K, L and E. The integral of the equation of growth with the calculated, factor-dependent elasticities of production yields the production function q.e*exp/left brace/a/sub o/(2-(l+e)/k)+a/sub o/c/sub t/(l/e-1)/right brace/, with q, k, l and e being the relative values of Q, K, L, and E; a/sub o/ and c/sub t/ are the two free parameters of the theory. For given factor inputs, the GNP and the output of the industrial sector of West Germany and the output of the sector ''Industries'' of the United States are calculated for the years 1960-78. Deviations of theory from reality are generally less than 5%. The influence of energy prices on factor inputs and growth is discussed.
Citation Formats
Kuemmel, R.
Impact of energy on industrial growth.
United Kingdom: N. p.,
1981.
Web.
Kuemmel, R.
Impact of energy on industrial growth.
United Kingdom.
Kuemmel, R.
1981.
"Impact of energy on industrial growth."
United Kingdom.
@misc{etde_6719463,
title = {Impact of energy on industrial growth}
author = {Kuemmel, R}
abstractNote = {The equation of growth relates the growth of output Q to the growth of the production factors capital K, labor L, and energy flow E. It can be solved in zero order approximation with respect to time, if one assumes that the characteristic properties of the industrial system are not changed by human creativity and that the economy is far from its thermodynamic limits to growth. Then Q must be a unique function of K, L and E. The integral of the equation of growth with the calculated, factor-dependent elasticities of production yields the production function q.e*exp/left brace/a/sub o/(2-(l+e)/k)+a/sub o/c/sub t/(l/e-1)/right brace/, with q, k, l and e being the relative values of Q, K, L, and E; a/sub o/ and c/sub t/ are the two free parameters of the theory. For given factor inputs, the GNP and the output of the industrial sector of West Germany and the output of the sector ''Industries'' of the United States are calculated for the years 1960-78. Deviations of theory from reality are generally less than 5%. The influence of energy prices on factor inputs and growth is discussed.}
journal = []
volume = {7:2}
journal type = {AC}
place = {United Kingdom}
year = {1981}
month = {Feb}
}
title = {Impact of energy on industrial growth}
author = {Kuemmel, R}
abstractNote = {The equation of growth relates the growth of output Q to the growth of the production factors capital K, labor L, and energy flow E. It can be solved in zero order approximation with respect to time, if one assumes that the characteristic properties of the industrial system are not changed by human creativity and that the economy is far from its thermodynamic limits to growth. Then Q must be a unique function of K, L and E. The integral of the equation of growth with the calculated, factor-dependent elasticities of production yields the production function q.e*exp/left brace/a/sub o/(2-(l+e)/k)+a/sub o/c/sub t/(l/e-1)/right brace/, with q, k, l and e being the relative values of Q, K, L, and E; a/sub o/ and c/sub t/ are the two free parameters of the theory. For given factor inputs, the GNP and the output of the industrial sector of West Germany and the output of the sector ''Industries'' of the United States are calculated for the years 1960-78. Deviations of theory from reality are generally less than 5%. The influence of energy prices on factor inputs and growth is discussed.}
journal = []
volume = {7:2}
journal type = {AC}
place = {United Kingdom}
year = {1981}
month = {Feb}
}