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Incorporating CO2 emissions into macroeconomic models through primary energy use

Author

Listed:
  • Grant Allan

    (Department of Economics, University of Strathclyde)

  • Kevin Connolly

    (Department of Economics, University of Strathclyde)

  • Andrew G Ross

    (Department of Economics, University of Strathclyde)

  • Peter McGregor

    (Department of Economics, University of Strathclyde)

Abstract
Two key pillars of the energy quadrilemma (which measure the sustainability of energy policy) are a reduction in greenhouse gas emissions and economic development. Recent worldwide energy policy has focused on the reduction of greenhouse gas emissions to combat climate change, which will influence, and in turn be influenced by, economic activity and energy use. As such, it is critically important to identify and incorporate emissions into macroeconomic models. Typically, emissions are linked to economic activity via the level of output, both calculated at a sectoral level. However, this approach - while consistent with linear models such as Input-Output - assumes that emissions per unit of output remains constant, which can be problematic with more complex economic systems. In this paper we detail a method for incorporating sectoral and aggregate CO2 emissions into a macroeconomic model (CGE) of the UK through the use of sectoral primary energy use.

Suggested Citation

  • Grant Allan & Kevin Connolly & Andrew G Ross & Peter McGregor, 2018. "Incorporating CO2 emissions into macroeconomic models through primary energy use," Working Papers 1818, University of Strathclyde Business School, Department of Economics.
    • Handle: RePEc:str:wpaper:1818
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    File URL: https://www.strath.ac.uk/media/1newwebsite/departmentsubject/economics/research/researchdiscussionpapers/18-18.pdf
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    Citations

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    Cited by:

    1. Grant Allan & David Comerford & Kevin Connolly & Peter McGregor & Andrew G Ross, 2019. "Economic and environmental impacts of UK offshore wind development to 2029: the importance of local content," Working Papers 1910, University of Strathclyde Business School, Department of Economics.
    2. Grant Allan & Kevin Connolly & Peter McGregor & Andrew G Ross, 2019. "Economic activity supported by offshore wind: a hypothetical extraction study," Working Papers 1911, University of Strathclyde Business School, Department of Economics.
    3. Grant Allan & Christos Barkoumas & Andrew Ross & Ashank Sinha, 2020. "Success in sectoral export promotion and economic and environmental indicators: a multisectoral modelling analysis for the UK," Working Papers 2008, University of Strathclyde Business School, Department of Economics.

    More about this item

    Keywords

    Emissions; macroeconomic models; primary use energy;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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