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GTAP Resource #4220

"Fossil Fuel Producing Economies Have Greater Potential for Interfuel Substitution"
by Steinbuks, Jevgenijs and Badri Narayanan


Abstract
This study extends the literature on interfuel substitution by investigating the role of transactions costs and technological adjustment, focusing specifically on differences across countries with different potential for fossil fuel production. We find that fossil fuel producing economies have higher elasticities of interfuel substitution. Our simulations show that, compared to the baseline case of uniform elasticities, energy and climate policies result in a greater substitution among different sources of energy for countries with larger potential to produce fossil fuels. These results are important because they imply lower economic cost for policies aimed at climate abatement and more efficient utilization of energy resources in energy-intensive economies.

Keywords: climate policies, dynamic linear logit, energy subsidies, fossil fuel production, GTAP-E model, interfuel substitution
JEL: E22, H25, Q41


Resource Details (Export Citation) GTAP Keywords
Category: Working Paper
Status: Published
By/In: GTAP Working Paper No. 73
Date: 2013
Version: 1
Created: Kincaid, W. (4/15/2013)
Updated: Kincaid, W. (1/22/2014)
Visits: 20,009
- Calibration and parameter estimation
- Climate change policy
- Economic development
- The GTAP Data Base and extensions


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  File format GTAP Working Paper 73.  (713.3 KB)   Replicated: 0 time(s)


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