Friday, March 26, 2010

Final Hub Report

The final report for my Hub project titled: "Modeling International Trends in Energy Efficiency and Carbon Emissions" is finally up on the EERH website. I've highlighted the key results in previous posts so not so much to add here. This paper also has a lot of literature review and a theoretical model as well as the econometric model and results. Originally I had more radical ideas of how to use the theoretical model but for various reasons decided to abandon them. The main reason was that I decided to incorporate the variables that explain the level of energy efficiency technology directly into the production frontier model. Originally, I planned to estimate the technology trends and then use the theoretical model to explain the changes in the trend. There is a bit of a disconnect in this paper between the theory which assumes that capital and energy are non-substitutable but the empirical model finds substantial substitutability. By that point it was too late and go back and develop a new theoretical model. This paper is way too big to submit to a journal (something like 19,000 words). So much of the literature review and theory will be cut or condensed in a journal submission. I have a bunch of stuff to do before that so it will be a while. I'll be happy to get feedback in the meantime. Especially, about any mistakes in the theoretical model.

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