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The work of the Shift Project focuses on the link between energy consumption and the GDP growth. The econometrical research confirms the standpoint defended by ecological economists and introducing primary energy as a key factor that drives GDP growth. The results show that an increase of 10% of energy use per capita induces, on average, an increase (resp. decrease) of about 6 to 7% of GDP per capita. The research also concludes that the causality relation goes from the consumption of energy to growth in both the short and long-run.
These findings sharply contrast with the custom, popular in macroeconomics, that consists in calibrating the output elasticity of energy according to the cost share of energy. In most countries, this practice leads to the postulate that energy elasticity should be close to 0.08% on average.