Arbeitspapier
Capital-embodied Technologies in CGE Models
Computable general equilibrium (CGE) models are widely used to analyse macroeconomic and sectoral effects of climate policies. Developing new and improving existing carbon-free energy technologies will be crucial to limit the long-term economic costs of mitigation policies. Such technologies are largely embodied in capital goods; yet conventionally structured CGE models cannot capture capital-embodiment of sector-specific technologies. In this paper, we clarify the conceptual nature of the capital embodiment problem in multisector CGE models. Aggregating productive sectors and investment goods eliminates channels whereby specific technological changes are embodied in specific capital stocks. Nevertheless, capital-embodiment of sector-specific Hicks-neutral technical changes can be directly represented as investment-specific technical change (ISTC)
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 2.2015
- Klassifikation
-
Wirtschaft
Technological Change: Choices and Consequences; Diffusion Processes
Environment and Growth
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Technological Innovation
Environmental Economics: Government Policy
- Thema
-
Climate Change Mitigation
Capital-Embodiment
Technological Change
CGE Models
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lennox, James
Parrado, Ramiro
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Lennox, James
- Parrado, Ramiro
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2015
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