Thursday, October 11, 2012

Energy Cost Share for England and Wales

Astrid Kander is visiting me to work on our ARC project. One paper we are working on is a comparison of Sweden and the United Kingdom. One of the our stylized facts on the relationship between energy and growth is that the share of energy in total production cost declines over time. This is very clear in the data from Sweden. But up till now, we've had very limited evidence for other countries. So we are putting together a comparable data set for England and Wales. The results are quite similar though less dramatic:
There are quite a lot of "kinks" in this data to be ironed out still, so this is very preliminary. We plan to fit the same model as we fitted to the Swedish data in our Energy Journal paper to this data too and then compare the results.

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