Enrica De Cian (Fondazione Eni Enrico Mattei) Valentina Bosetti (Fondazione Eni Enrico Mattei, PEI Princeton University and CMCC) Alessandra Sgobbi (Fondazione Eni Enrico Mattei and European Commission) Massimo Tavoni (Fondazione Eni Enrico Mattei, PEI Princeton University and CMCC)
Abstract
WITCH is an energy-economy-climate model developed by the climate change group at FEEM. The model has been extensively used in the past 3 years for the economic analysis of climate change policies. WITCH is a hybrid top-down economic model with a representation of the energy sector of medium complexity. Two distinguishing features of the WITCH model are the representation of endogenous technological change and the game–theoretic set-up. Technological change is driven by innovation and diffusion processes, both of which feature international spillovers. World countries are grouped in 12 regions which interact with each other in a setting of strategic interdependence. This paper describes the updating of the base year data to 2005 and some new features: the inclusion of non-CO2 greenhouse gases and abatement options, the new specification of low carbon technologies and the inclusion of reducing emissions from deforestation and degradation.
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Publisher Info
Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number
2009.85.
Find related papers by JEL classification: O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
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