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Economic and environmental impacts of decarbonisation through a hybrid MRIO multiplier-accelerator model

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  • Óscar Dejuán
  • Ferran Portella-Carbó
  • Mateo Ortiz

Abstract

This paper analyses the impacts of decarbonisation in three energy-intensive sectors/institutions (electricity generation, road transport, and household consumption) on four economic and environmental variables (value added, employment, energy consumption, and emissions). In our basic scenario, the EU is supposed to complete the decarbonisation of the selected sectors in 30 years, whereas in the rest of the world these sectors will be 30% decarbonised. We hypothesise that emissions and employment will fall once renewable sources of energy replace fossil fuels. Yet, in the meanwhile, massive investments are needed to build the required infrastructure. To compute the full impact, we apply a multiplier-accelerator model to a global multiregional hybrid input–output table derived from EXIOBASE3. In the EU, such a decarbonisation reduces yearly energy consumption, CO2 emissions, and employment by 22%, 19%, and 4%, respectively. Thus, additional measures are necessary to avoid global warming and absorb unemployment.

Suggested Citation

  • Óscar Dejuán & Ferran Portella-Carbó & Mateo Ortiz, 2022. "Economic and environmental impacts of decarbonisation through a hybrid MRIO multiplier-accelerator model," Economic Systems Research, Taylor & Francis Journals, vol. 34(1), pages 1-21, January.
  • Handle: RePEc:taf:ecsysr:v:34:y:2022:i:1:p:1-21
    DOI: 10.1080/09535314.2020.1848808
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    Cited by:

    1. López, Luis-Antonio & Arce, Guadalupe & Cadarso, María-Ángeles & Ortiz, Mateo & Zafrilla, Jorge, 2023. "The global dissemination to multinationals of the carbon emissions ruling on Shell," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 406-416.
    2. Ortiz, Mateo & Cadarso, María-Ángeles & López, Luis-Antonio & Jiang, Xuemei, 2022. "The trade-off between the economic and environmental footprints of multinationals’ foreign affiliates," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 85-97.
    3. Többen, Johannes & Banning, Maximilian & Hembach-Stunden, Katharina & Stöver, Britta & Ulrich, Philip & Schwab, Thomas, 2023. "Energising EU Cohesion: Powering up lagging regions in the renewable energy transition," MPRA Paper 119374, University Library of Munich, Germany.

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