De Lipsis, V;
Agnolucci, P;
Bleischwitz, R;
(2019)
Technology shocks and the Prebisch-Singer hypothesis.
In:
Proceedings of the 7th International Symposium on Environment and Energy Finance Issues (ISEFI-2019).
IPAG Center for Energy Economics and Environment/Centre of Geopolitics of Energy and Raw Materials: Paris, France.
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Abstract
Can technology neutralize the threat that depletion poses to resource availability? We offer new insights into this long-standing topic by analysing the US mining sector of iron ore, an important primary commodity used in a wide range of industrial productions. We develop a new econometric approach that allows to distinguish the sign of unobserved shocks, and we use it to study potential asymmetries between technology and scarcity. We find that technological progress produces stronger and more persistent effects on productivity and price than the natural action of resource depletion, with global market structure influencing the size of such effect.
| Type: | Proceedings paper |
|---|---|
| Title: | Technology shocks and the Prebisch-Singer hypothesis |
| Event: | 7th International Symposium on Environment and Energy Finance Issues (ISEFI-2019) |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | https://isefi.sciencesconf.org/resource/page/id/18 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Resource depletion, technological change, nonrenewable resources, structural vector autoregression, asymmetry, nonlinearity. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10119372 |
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