It is well-known that energy conservation can lead to rebound effects that partly offset the original energy savings. One particular rebound mechanism is re-spending of money savings associated with energy savings on energy intensive goods or services. We calculate the average magnitude of this...

Standard economic theory regards capital and labour as the main factors of production that satisfy the “cost-share theorem”. This paper argues that when a third factor, namely energy, is added physical constraints on substitution among the factors arise. We show that energy is a much more...

This article examines the potential effects of peak oil on Spanish tourism and indirectly on the rest of the economy. We construct several scenarios of price increases in oil, related fossil fuels and their inflationary effects. These scenarios provide the context for an input–output (I/O)...