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Title:Marginal abatement cost curves in general equilibrium: The influence of world energy prices PDF Logo
Authors:Klepper, Gernot
Peterson, Sonja
Issue Date:2004
Series/Report no.:Nota di lavoro, Fondazione Eni Enrico Mattei 2004,136
Abstract:Marginal abatement cost curves (MACCs) are one of the favorite instruments to analyze the impacts of the implementation of the Kyoto Protocol and emissions trading. As shown in this paper one important factor that influences MACCs are energy prices. This leads to the question of how to define MACCs in a general equilibrium context where the overall abatement level world wide influences energy prices and thus national MACCs. We first discuss the mechanisms theoretically and then use the CGE model DART to quantify the effects. The result is, that changes in energy prices resulting from different world wide abatement levels do indeed affect the national MACCs. Also, we compare different possibilities of defining MACCs - of which some turn out to be robust against changes in energy prices while others vary considerably.
Subjects:Climate change
Marginal abatement cost
Energy price
Computable general equilibrium model
JEL:C68
D58
F18
Q41
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
FEEM Working Papers, Fondazione Eni Enrico Mattei

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