Hofkes, M.W.

vintage technology capital model production energy demand productivity effect diffusion labour learning-by-using equation sector complementarity figure price process goods sector result adoption example increase economy producer substitution section capital stock capital production sector demand curve paper level development production process market number journal growth change expression mark-up elasticity innovation energy price energy-capital ratio 0 e g improvement ceteris paribus diversity curve yield investment review energy-efficiency ratio jovanovic policy function exogenou theory research energy-capital return technology adoption study energy costs productivity level stock solution university labour market equilibrium amount economic mark-up pricing pe 0 e vintage-specific energy-capital ratio explanation performance energy efficiency complementarity effect