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WITCH. A World Induced Technical Change Hybrid Model

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Author Info

  • Valentina Bosetti

    (Fondazione Eni Enrico Mattei)

  • Carlo Carraro

    ()
    (Department of Economics, University Of Venice Ca’ Foscari)

  • Marzio Galeotti

    (Fondazione Eni Enrico Mattei)

  • Emanuele Massetti

    (Fondazione Eni Enrico Mattei)

  • Massimo Tavoni

    (Fondazione Eni Enrico Mattei)

Abstract

The need for a better understanding of future energy scenarios, of their compatibility with the objective of stabilizing greenhouse gas concentrations, and of their links with climate policy, calls for the development of hybrid models. Hybrid because both the technological detail typical of Bottom Up (BU) models and the long run dynamics typical of Top Down (TD) models are crucially necessary. We present WITCH – World Induced Technical Change Hybrid model – a neoclassical optimal growth model (TD) with energy input detail (BU). The model endogenously accounts for technological progress, both through learning curves affecting prices of new vintages of capital and through R&D investments. In addition, the model captures the main economic interrelationships between world regions and is designed to analyze the optimal economic and environment policies in each world region as the outcome of a dynamic game. This paper provides a detailed description of the WITCH model, of its baseline, and of the model calibration procedure.

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Bibliographic Info

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2006_46.

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Length: 31 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:ven:wpaper:2006_46

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Related research

Keywords: Climate Policy; Hybrid Modelling; Integrated Assessment; Technological Change; Energy Mix.;

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Citations

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Cited by:
  1. van der Werf, Edwin, 2008. "Production functions for climate policy modeling: An empirical analysis," Energy Economics, Elsevier, vol. 30(6), pages 2964-2979, November.
  2. Céline Guivarch & Stéphane Hallegatte & Renaud Crassous, 2009. "The Resilience of the Indian Economy to Rising Oil Prices as a Validation Test for a Global Energy-Environment-Economy CGE Model," Post-Print hal-00566971, HAL.
  3. Gunnar Luderer & Enrica DeCian & Jean-Charles Hourcade & Marian Leimbach & Henri Waisman & Ottmar Edenhofer, 2012. "On the regional distribution of mitigation costs in a global cap-and-trade regime," Climatic Change, Springer, vol. 114(1), pages 59-78, September.
  4. Valentina Bosetti & Carlo Carraro & Alessandra Sgobbi & Massimo Tavoni, 2008. "Modelling Economic Impacts of Alternative International Climate Policy Architectures. A Quantitative and Comparative Assessment of Architectures for Agreement," Working Papers 2008.85, Fondazione Eni Enrico Mattei.
  5. Popp, David & Santen, Nidhi & Fisher-Vanden, Karen & Webster, Mort, 2013. "Technology variation vs. R&D uncertainty: What matters most for energy patent success?," Resource and Energy Economics, Elsevier, vol. 35(4), pages 505-533.
  6. Hannah Förster & Katja Schumacher & Enrica De Cian & Michael Hübler & Ilkka Keppo & Silvana Mima & Ronald D. Sands, 2014. "European Energy Efficiency and Decarbonization Strategies Beyond 2030 – A Sectoral Multi-model Decomposition," Working Papers 2014.27, Fondazione Eni Enrico Mattei.
  7. Hannah Förster & Katja Schumacher & Enrica De Cian & Michael Hübler & Ilkka Keppo & Silvana Mima & Ronald D. Sands, 2013. "European energy efficiency and decarbonization strategies beyond 2030 : A sectoral multi-model decomposition," Post-Print halshs-00939253, HAL.
  8. BRECHET, Thierry & THENIE, Julien & ZEIMES, Thibaut & ZUBER, Stéphane, . "The benefits of cooperation under uncertainty: the case of climate change," CORE Discussion Papers RP -2435, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Giulia Fiorese & Michela Catenacci & Valentina Bosetti & Elena Verdolini, 2013. "The Power of Biomass: Experts Disclose the Potential for Success of Bioenergy Technologies," Working Papers 2013.18, Fondazione Eni Enrico Mattei.
  10. Massetti, Emanuele & Ricci, Elena Claire, 2013. "An assessment of the optimal timing and size of investments in concentrated solar power," Energy Economics, Elsevier, vol. 38(C), pages 186-203.
  11. Richard S.J. Tol, 2012. "Targets for Global Climate Policy: An Overview," Working Paper Series 3712, Department of Economics, University of Sussex.
  12. Sarica, Kemal & Tyner, Wallace E., 2013. "Alternative policy impacts on US GHG emissions and energy security: A hybrid modeling approach," Energy Economics, Elsevier, vol. 40(C), pages 40-50.
  13. Taran Fæhn & Elisabeth Thuestad Isaksen, 2014. "Diffusion of climate technologies in the presence of commitment problems," Discussion Papers 768, Research Department of Statistics Norway.
  14. Gunnar Luderer & Valentina Bosetti & Michael Jakob & Marian Leimbach & Jan Steckel & Henri Waisman & Ottmar Edenhofer, 2012. "The economics of decarbonizing the energy system—results and insights from the RECIPE model intercomparison," Climatic Change, Springer, vol. 114(1), pages 9-37, September.
  15. repec:hal:wpaper:hal-00866431 is not listed on IDEAS
  16. Brigitte Knopf & Yen-Heng Henry Chen & Enrica De Cian & Hannah Förster & Amit Kanudia & Ioanna Karkatsouli & Ilkka Keppo & Tiina Koljonen & Katja Schumacher & Detlef van Vuuren, 2014. "Beyond 2020 - Strategies and Costs for Transforming the European Energy System," Working Papers 2014.15, Fondazione Eni Enrico Mattei.

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