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Does climate policy make the EU economy more resilient to oil price rises? A CGE analysis

  • Maisonnave, Hélène
  • Pycroft, Jonathan
  • Saveyn, Bert
  • Ciscar, Juan-Carlos

The European Union has committed itself to reduce greenhouse gas (GHG) emissions by 20% in 2020 compared with 1990 levels. This paper investigates whether this policy has an additional benefit in terms of economic resilience by protecting the EU from the macroeconomic consequences due to an oil price rise.

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Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 47 (2012)
Issue (Month): C ()
Pages: 172-179

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Handle: RePEc:eee:enepol:v:47:y:2012:i:c:p:172-179
DOI: 10.1016/j.enpol.2012.04.053
Contact details of provider: Web page: http://www.elsevier.com/locate/enpol

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  1. James D. Hamilton, 2009. "Causes and Consequences of the Oil Shock of 2007-08," NBER Working Papers 15002, National Bureau of Economic Research, Inc.
  2. Yazid Dissou, 2005. "Output-Based Emissions Allowances and the Equity-Efficiency Trade-off," Working Papers 0505E, University of Ottawa, Department of Economics.
  3. Bert Saveyn & Denise Van Regemorter & Juan-Carlos Ciscar, 2012. "Economic analysis of the climate pledges of the Copenhagen Accord for the EU and other major countries," EcoMod2012 4072, EcoMod.
  4. Turton, Hal & Barreto, Leonardo, 2006. "Long-term security of energy supply and climate change," Energy Policy, Elsevier, vol. 34(15), pages 2232-2250, October.
  5. Lutz Kilian, 2008. "The Economic Effects of Energy Price Shocks," Journal of Economic Literature, American Economic Association, vol. 46(4), pages 871-909, December.
  6. Julie Rozenberg & Stéphane Hallegatte & Adrien Vogt-Schilb & Olivier Sassi & Céline Guivarch & Henri Waisman & Jean Charles Hourcade, 2010. "Climate policies as a hedge against the uncertainty on future oil supply," CIRED Working Papers hal-00866449, HAL.
  7. Alain Bernard & Marc Vielle, 2008. "GEMINI-E3, a general equilibrium model of international–national interactions between economy, energy and the environment," Computational Management Science, Springer, vol. 5(3), pages 173-206, May.
  8. Fischer, Carolyn, 2001. "Rebating Environmental Policy Revenues: Output-Based Allocations and Tradable Performance Standards," Discussion Papers dp-01-22, Resources For the Future.
  9. Aleklett, Kjell & Höök, Mikael & Jakobsson, Kristofer & Lardelli, Michael & Snowden, Simon & Söderbergh, Bengt, 2010. "The Peak of the Oil Age - Analyzing the world oil production Reference Scenario in World Energy Outlook 2008," Energy Policy, Elsevier, vol. 38(3), pages 1398-1414, March.
  10. Vielle, Marc & Viguier, Laurent, 2007. "On the climate change effects of high oil prices," Energy Policy, Elsevier, vol. 35(2), pages 844-849, February.
  11. Conrad, K & Schroder, M, 1991. "Demand for Durable and Nondurable Goods, Environmental Policy and Consumer Welfare," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 6(3), pages 271-86, July-Sept.
  12. repec:hal:wpaper:hal-00866449 is not listed on IDEAS
  13. Kai Carstensen & Steffen Elstner & Georg Paula, 2011. "How Strongly Did the 2007/08 Oil Price Hike Contribute to the Subsequent Recession?," CESifo Working Paper Series 3357, CESifo Group Munich.
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