Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
How will energy availability affect economic growth? Carefully identified microeconomic estimates suggest that the short-run impact of energy availability on economic outcomes is small. Building on recent advances in the environmental macroeconomics literature, I examine the difference between short- and long-run impacts of energy policy in two quantitative growth models. Both models suggest that the long-run impact of energy availability on output is almost twice as large as the short-run impact. Policies that increase energy availability may be more effective at boosting output than suggested in the existing literature.