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L'analyse macroéconomique de la transition énergétique : difficile mais indispensable

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  • Jean-François Ouvrard
Abstract
The energy transition requires the implementation of various policy instruments (carbon prices, subventions, etc.) which in turn affect the macroeconomic output. For this reason, a sound macroeconomic assessment of the impact of this policy is needed. This assessment is not straightforward. First, the macroeconomic evaluation of the consequences of action versus inaction as regards climate change turns out to be very difficult. Still, macroeconomic analysts are more at ease when they try to analyze the macroeconomic consequences of certain policies compared with others. These consequences will strongly depend on the functioning of the economy, its institutions, its rigidities etc. It is thus almost an empirical question and macroeconomic models can be very useful in this respect. In the case of climate change policies, some key aspects of macroeconomic models must be emphasized, notably sound equilibrium mechanisms, an accurate description of financing capacities, or the impact of technological progress. In practice, different macroeconomic models often lead to very different evaluation of the impact of energy transition policies, which illustrate how crucial certain macroeconomic mechanisms are. Classification JEL: E17, Q01, Q54, Q56.

Suggested Citation

  • Jean-François Ouvrard, 2015. "L'analyse macroéconomique de la transition énergétique : difficile mais indispensable," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 63-73.
    • Handle: RePEc:cai:refaef:ecofi_117_0063
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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