International Effects of Energy Conservation
This paper reports on an energy conservation scenario computed by the United Nations World Model. Energy prices are assumed to rise as they did in the base runs but shifts in fuel mix and energy-saving are assumed to be achieved through increased labor and capital costs. Results suggest that vigorous energy conservation would substantially decrease, but not eliminate, the payments stresses in the reference case. Regional effects vary greatly. Payments-constrained regions could develop somewhat faster despite additional requirements for investment goods. Developed economies would achieve improved trade balances through higher investment and some consumption sacrifice.
KeywordsGross Domestic Product Energy Conservation Capital Stock Energy Price Capital Requirement
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