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

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Abstract

This paper investigates the economic impact of a 5% improvement in the 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.
LanguageEnglish
Pages51-62
Number of pages12
JournalEcological Economics
Volume100
Early online date18 Feb 2014
DOIs
Publication statusPublished - Apr 2014

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general equilibrium analysis
household energy
energy use
household income
economic impact
energy efficiency
economic activity
simulation
energy
Energy use
Household
General equilibrium analysis
Rebound effect
Added value
effect

Keywords

  • energy efficiency
  • indirect rebound effects
  • household energy consumption
  • CGE models

Cite this

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title = "The added value from a general equilibrium analysis of increased efficiency in household energy use",
abstract = "This paper investigates the economic impact of a 5{\%} improvement in the 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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author = "Patrizio Lecca and McGregor, {Peter G.} and Swales, {J. Kim} and Karen Turner",
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AB - This paper investigates the economic impact of a 5% improvement in the 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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KW - CGE models

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