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A World Induced Technical Change Hybrid Model

Author

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  • Valentina Bosetti
  • Carlo Carraro
  • Marzio Galeotti
  • Emanuele Massetti
  • Massimo Tavoni

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.

Suggested Citation

  • Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "A World Induced Technical Change Hybrid Model," The Energy Journal, , vol. 27(2_suppl), pages 13-37, June.
    • Handle: RePEc:sae:enejou:v:27:y:2006:i:2_suppl:p:13-37
    DOI: 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI2-2
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    Cited by:

    1. Castellini, Marta & Castelli, Chiara & Gusperti, Camilla & Lupi, Veronica & Vergalli, Sergio, 2025. "Balancing climate policies and economic development in the Mediterranean countries," Energy Economics, Elsevier, vol. 145(C).
    2. Gregory Casey, 2024. "Energy Efficiency and Directed Technical Change: Implications for Climate Change Mitigation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(1), pages 192-228.
    3. Anas, Muhammad & Bouri, Elie & Shahzad, Syed Jawad Hussain, 2025. "A comparative bibliometric analysis of five major energy journals," Energy Economics, Elsevier, vol. 151(C).
    4. Reissl, Severin & Fierro, Luca E. & Lamperti, Francesco & Roventini, Andrea, 2025. "The DSK stock-flow consistent agent-based integrated assessment model," Ecological Economics, Elsevier, vol. 236(C).
    5. Bhadury, Soumya & Pratap, Bhanu & Gajbhiye, Dhirendra, 2025. "Transition to a greener economy: Climate change risks and resilience in a state-space framework," Journal of Asian Economics, Elsevier, vol. 98(C).
    6. James Hopeward & Richard Davis & Shannon O’Connor & Peter Akiki, 2025. "The Global Renewable Energy and Sectoral Electrification (GREaSE) Model for Rapid Energy Transition Scenarios," Energies, MDPI, vol. 18(9), pages 1-29, April.
    7. Jianglai Dai & Yingying Li & Xuetao Li, 2025. "Spatial Spillover Effect of Green Industrial Agglomeration on Carbon Productivity," Sustainability, MDPI, vol. 17(20), pages 1-25, October.

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