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GTAP-E: An Energy-Environmental Version of the GTAP Model with Emission Trading

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  • Truong P. Truong
  • Claudia Kemfert
  • Jean-Marc Burniaux

Abstract

Energy is an important commodity in many economic activities. Its usage affects the environment via CO2 emissions and the Greenhouse Effect. Modeling the energy-economy-environment-trade linkages is an important objective in applied economic policy analysis. Previously, however, the modeling of these linkages in GTAP has been incomplete. This is because energy substitution, a key factor in this chain of linkages, is absent from the standard model specification. This technical paper remedies this deficiency by incorporating energy substitution into the standard GTAP model. It begins by first reviewing some of the existing approaches to this problem in contemporary CGE models. It then suggests an approach for GTAP which incorporates some of these desirable features of energy substitution. The approach is implemented as an extended version of the GTAP model called GTAP-E. In addition, GTAP-E incorporates carbon emissions from the combustion of fossil fuels and this revised version of GTAP-E provides for a mechanism to trade these emissions internationally as well as domestically. The policy relevance of GTAP-E in the context of the existing debate about climate change is illustrated by some illustrative simulations of the implementation the European emissions trading scheme in 2005. It is hoped that the proposed model will be used by individuals in the GTAP network who may not be themselves energy modelers, but who require a better representation of the energy-economy-environmental linkages than is currently offered in the standard GTAP model.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.55787.de/dp668.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 668.

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Length: 71 p.
Date of creation: 2007
Date of revision:
Handle: RePEc:diw:diwwpp:dp668

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  1. Perroni, Carlo & Rutherford, Thomas F., 1995. "Regular flexibility of nested CES functions," European Economic Review, Elsevier, vol. 39(2), pages 335-343, February.
  2. Wilson, Deborah & Swisher, Joel, 1993. "Exploring the gap : Top-down versus bottom-up analyses of the cost of mitigating global warming," Energy Policy, Elsevier, vol. 21(3), pages 249-263, March.
  3. Truong, Truong P, 1985. "Inter-fuel and Inter-factor Substitution in NSW Manufacturing Industry," The Economic Record, The Economic Society of Australia, vol. 61(174), pages 644-53, September.
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Cited by:
  1. Proen├ža, Sara & St. Aubyn, Miguel, 2013. "Hybrid modeling to support energy-climate policy: Effects of feed-in tariffs to promote renewable energy in Portugal," Energy Economics, Elsevier, vol. 38(C), pages 176-185.
  2. Thure Traber & Claudia Kemfert, 2007. "Impacts of the German Support for Renewable Energy on Electricity Prices, Emissions and Profits: An Analysis Based on a European Electricity Market Model," Discussion Papers of DIW Berlin 712, DIW Berlin, German Institute for Economic Research.

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