Economics and Finance
Energy and Environmental Economics
The E3 (E3 stands for Energy, Environment. Economy) modeling Unit of the Applied Research Group of the Department of Economic and Finance is working on the following main topics:
A. E3 Modeling
The main product so far is the MERCI model - a short cut for the Model for Evaluating the Regional Climate Change Impacts of GHG reduction policies. MERCI is a dynamic general equilibrium hybrid model with the Austrian sub model imbedded into the EU economic and CO2 trading systems. The main sub models: (i) The Austrian domestic and EU regional economy; (ii) Energy Technologies Assessment, (iii) Energy-related emissions of GHG; (iv) Non-energy emissions of GHGs ; (v) Regional climate change damages, etc
B. Studies
Ongoing activity is the drafting and evaluating of sustainable Austrian long term energy and climate change strategies by accounting for the recent respective EU regulatory framework. The EU energy and climate change prospects have changed due to the economic crises but also due to the improved knowledge on processes leading to the climate change. To that end many new regulations and policy guidelines have been recently adopted, e.g., EU ETS binding caps, regulations on cars, etc.
The output comprises the following main components:
Contact:
A. E3 Modeling
The main product so far is the MERCI model - a short cut for the Model for Evaluating the Regional Climate Change Impacts of GHG reduction policies. MERCI is a dynamic general equilibrium hybrid model with the Austrian sub model imbedded into the EU economic and CO2 trading systems. The main sub models: (i) The Austrian domestic and EU regional economy; (ii) Energy Technologies Assessment, (iii) Energy-related emissions of GHG; (iv) Non-energy emissions of GHGs ; (v) Regional climate change damages, etc
B. Studies
Ongoing activity is the drafting and evaluating of sustainable Austrian long term energy and climate change strategies by accounting for the recent respective EU regulatory framework. The EU energy and climate change prospects have changed due to the economic crises but also due to the improved knowledge on processes leading to the climate change. To that end many new regulations and policy guidelines have been recently adopted, e.g., EU ETS binding caps, regulations on cars, etc.
The output comprises the following main components:
- Costs of abatement due to the new EU 2009 regulations
- The trading levels for the European Union Greenhouse Gas Emission Trading System (EU ETS)
- Macroeconomic and sectoral implications of the mitigation and abatement scenarios
- Technological progress expressed in term of cost and performance goals for the new and renewable technologies
- The E3 implications from the introduction of the new and renewable energy sources at large scale
Contact:
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