The Added Value from a General Equilibrium Analyses of Increased Efficiency in Household Energy Use
Lecca, Patrizio and McGregor, Peter and Swales, J. Kim and Turner, Karen (2013) The Added Value from a General Equilibrium Analyses of Increased Efficiency in Household Energy Use. Discussion paper. University of Strathclyde, Glasgow.
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Abstract
The aim of the paper is to identify the added value from using general equilibrium techniques to consider the economy-wide impacts of increased efficiency in household energy use. We take as an illustrative case study the effect of a 5% improvement in household energy efficiency on the UK economy. This impact is measured through simulations that use models that have increasing degrees of endogeneity but are calibrated on a common data set. That is to say, we calculate rebound effects for models that progress from the most basic partial equilibrium approach to a fully specified general equilibrium treatment. The size of the rebound effect on total energy use depends upon: the elasticity of substitution of energy in household consumption; the energy intensity of the different elements of household consumption demand; and the impact of changes in income, economic activity and relative prices. A general equilibrium model is required to capture these final three impacts.
Creators(s): |
Lecca, Patrizio, McGregor, Peter ![]() | Item type: | Monograph(Discussion paper) |
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ID code: | 68105 |
Notes: | Published as a paper within the Discussion Papers in Economics, No. 13-08 (2013) |
Keywords: | energy efficiency, indirect rebound effects, economy-wide rebound effects, household energy consumption, cge models, Economic Theory, Economics, Econometrics and Finance(all) |
Subjects: | Social Sciences > Economic Theory |
Department: | Strathclyde Business School > Economics Faculty of Humanities and Social Sciences (HaSS) > School of Government and Public Policy > Politics Strategic Research Themes > Energy |
Depositing user: | Pure Administrator |
Date deposited: | 29 May 2019 11:43 |
Last modified: | 03 Jan 2021 02:48 |
URI: | https://strathprints.strath.ac.uk/id/eprint/68105 |
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