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Climate Change, Energy Demand and Market Power in a General Equilibrium Model of the World Economy

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  • Roberto Roson

    ()
    (Department of Economics, University Of Venice Cà Foscari)

  • Francesco Bosello

    (Department of Economics, University of Milan)

  • Enrica De Cian

    (Scuola di Studi Avanzati, University of Venice Ca'Foscari)

Abstract

Future energy demand will be affected by changes in prices and income, but also by other factors, like temperature levels. This paper draws upon an econometric study, disentangling the contribution of temperature in the determination of the annual regional demand for energy goods. Combining estimates of temperature elasticities with scenarios of future climate change, it is possible to assess variations in energy demand induced (directly) by the global warming. We use this information to simulate a change in the demand structure of households in a CGE model of the world economy, in a set of assessment exercises. The changing demand structure triggers a structural adjustment process, influencing trade flows, regional competitiveness of industries and regions, and welfare. We also consider the possible existence of imperfect competition in the energy markets, analyzing the impact of changes in energy demand with an alternative model version, in which energy industries are modeled as Cournot oligopolies.

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File URL: http://www.unive.it/media/allegato/DIP/Economia/Working_papers/Working_papers_2007/WP_DSE_bosello_decian_roson_09_07.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2007_09.

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Length: 23 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:ven:wpaper:2007_09

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Keywords: Climate Change; Damage Function; Integrated Assessment; General Equilibrium.;

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References

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  1. Andrea Bigano & Francesco Bosello & Giuseppe Marano, 2006. "Energy Demand and Temperature: A Dynamic Panel Analysis," Working Papers 2006.112, Fondazione Eni Enrico Mattei.
  2. Enrica De Cian & Elisa Lanzi & Roberto Roson, 2007. "The Impact of Temperature Change on Energy Demand: A Dynamic Panel Analysis," Working Papers 2007.46, Fondazione Eni Enrico Mattei.
  3. Maria Berrittella & Katrin Rehdanz & Arjen Y. Hoekstra & Roberto Roson & Richard S.J. Tol, 2006. "The Economic Impact Of Restricted Water Supply: A Computable General Equilibrium Analysis," Working Papers FNU-93, Research unit Sustainability and Global Change, Hamburg University, revised Jul 2006.
  4. Roberto Roson & Alvaro Calzadilla & Francesco Pauli, 2006. "Climate Change and Extreme Events: an Assessment of Economic Implications," Working Papers 2006_18, Department of Economics, University of Venice "Ca' Foscari".
  5. Bosello, Francesco & Roson, Roberto & Tol, Richard S.J., 2006. "Economy-wide estimates of the implications of climate change: Human health," Ecological Economics, Elsevier, vol. 58(3), pages 579-591, June.
  6. Burniaux, Jean-Marc & Truong Truong, 2002. "GTAP-E: An Energy-Environmental Version of the GTAP Model," GTAP Technical Papers 923, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
  7. Joaquim Oliveira Martins & Stefano Scarpetta & Dirk Pilat, 1996. "Mark-Up Ratios in Manufacturing Industries: Estimates for 14 OECD Countries," OECD Economics Department Working Papers 162, OECD Publishing.
  8. Maria Berrittella & Andrea Bigano & Roberto Roson & Richard S.J. Tol, 2004. "A General Equilibrium Analysis Of Climate Change Impacts On Tourism," Working Papers FNU-49, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
  9. Francesco Bosello & Roberto Roson & Richard S.J. Tol, 2004. "Economy-Wide Estimates Of The Implications Of Climate Change: Sea Level Rise," Working Papers FNU-38, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2004.
  10. Pardo, Angel & Meneu, Vicente & Valor, Enric, 2002. "Temperature and seasonality influences on Spanish electricity load," Energy Economics, Elsevier, vol. 24(1), pages 55-70, January.
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