The added value from a general equilibrium analysis of increased efficiency in household energy use

Patrizio Lecca; Peter G. Mcgregor; J. Kim Swales; Karen Turner

doi:10.1016/j.ecolecon.2014.01.008

The added value from a general equilibrium analysis of increased efficiency in household energy use

Patrizio Lecca, Peter G. Mcgregor, J. Kim Swales, Karen Turner

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Abstract

This paper investigates the economic impact of a 5% improvement in UK household energy efficiency, focussing specifically on total energy rebound effects. The impact is measured through simulations using models that have increasing degrees of endogeneity but are calibrated on a common data set, moving from a basic partial equilibrium approach to a fully specified general equilibrium treatment. The size of the rebound effect is shown to depend on changes in household income, aggregate economic activity and relative prices that can only be captured through a general equilibrium model.

Original language	English
Pages (from-to)	51-62
Journal	Ecological Economics
Volume	100
DOIs	https://doi.org/10.1016/j.ecolecon.2014.01.008
Publication status	Published - 1 Apr 2014

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abstract = "This paper investigates the economic impact of a 5% improvement in UK household energy efficiency, focussing specifically on total energy rebound effects. The impact is measured through simulations using models that have increasing degrees of endogeneity but are calibrated on a common data set, moving from a basic partial equilibrium approach to a fully specified general equilibrium treatment. The size of the rebound effect is shown to depend on changes in household income, aggregate economic activity and relative prices that can only be captured through a general equilibrium model. ",

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AB - This paper investigates the economic impact of a 5% improvement in UK household energy efficiency, focussing specifically on total energy rebound effects. The impact is measured through simulations using models that have increasing degrees of endogeneity but are calibrated on a common data set, moving from a basic partial equilibrium approach to a fully specified general equilibrium treatment. The size of the rebound effect is shown to depend on changes in household income, aggregate economic activity and relative prices that can only be captured through a general equilibrium model.

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The added value from a general equilibrium analysis of increased efficiency in household energy use

Abstract

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