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Energy as a Factor of Production: Historical Roots in the American Institutionalist Context

Abstract : The relationship between energy and economic output is today discussed through the decoupling issue. A pioneering historical attempt to measure this relationship can be found in contributions by F. G. Tryon et al. at the Brookings Institution in the 1920s–1930s, in the American institutionalist context. This episode has scarcely been noticed in the literature. On the basis of textual analysis, archival material and econometrics, the purpose of this article is to provide a historical account of this corpus (context, originality), to assess the relevance of its statistical results, and to highlight the salient issues of the time that could feed into contemporary research. In particular, the articulation between empirical observations (inter-index correlation), theoretical implications (considering energy as a factor of production) and energy policy (global strategy rather than sectoral measures) is an old question deserving attention.
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https://halshs.archives-ouvertes.fr/halshs-02467734
Contributor : Antoine Missemer <>
Submitted on : Wednesday, February 5, 2020 - 11:18:25 AM
Last modification on : Saturday, October 3, 2020 - 4:22:09 AM

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Antoine Missemer, Franck Nadaud. Energy as a Factor of Production: Historical Roots in the American Institutionalist Context. Energy Economics, Elsevier, 2020, 86, pp.104706. ⟨10.1016/j.eneco.2020.104706⟩. ⟨halshs-02467734⟩

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