| 来源类型 | Research papers
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| 规范类型 | 报告
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| Evaluating the Differential Effects of Alternative Emission Reduction Policy Instruments on Income Equality |
| S. B. Oh
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| 发表日期 | 2012-12-31
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| 出版年 | 2012
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| 语种 | 英语
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| 摘要 | ABSTRACT
Korea pledged to reduce emission by 30% below BAU (Business as Usual) in 2020. Considering that industry sector is highly efficient in energy use and electricity demand is expected to continue to grow, however, we need to focus on emission reduction in electricity generation sector to meet the emission target. The emission reduction in electricity generation sector could come from the expansion of renewable energy and/or nuclear power as well as efficiency improvement.
The CGE (Computable General Equilibrium) model, a top-down model, is generally used to analyze the effect of the introduction of a new policy, but any CGE model developed so far in Korea does not allow the change in the electricity generation mix. Therefore, the need for a new hybrid model, in which the expansion of the renewable energy is allowed to expand for example, is raised.
Hybrid models have been developed to overcome shortcomings of either a top-down model or a bottom-up model by combining components of top-down and bottom-up models. For example, Bohringer(1998)and Bohringer and Rutherford(2005, 2008) merged two models in a single mathematical framework by applying MCP(Mixed Complementarity Problem). The complexity of calculation could be overcome with a decomposition technology Bohringer and Rutherford(2009) propose. Sue Wing(2008) constructed a hybrid SAM (Social Accounting Matrix) by linking technology data to the conventional SAM.
In this paper I develop a hybrid model which allows the change in electricity generation mix by adding the electricity-sector components of bottom-up model to the conventional CGE model. In this model the electricity sector is represented as a sum of separate generation technologies, each of which has the form of DRTS (Decreasing Returns to Scale) production function, unlike the conventional CGE model. This makes it possible a different analysis to the effect of new policies and produces more realistic results.
For example, in the hybrid model it is allowed to express the input factors and the specific characteristics by generation technology, and capacity by generation sector. In addition, this model makes it possible to analyze the effect of electricity-related policies, which is impossible with the conventional CGE because the electricity is represented as a single sector, namely any technology which does not use fossil fuel is not separated from the entire electricity sector. Therefore, this model could yield more realistic results by reflecting the change in the electricity generation mix in a way of being comparable with the change in the macroeconomic variables induced by new policies.
In this paper I compare the effects of the 30% emission reduction target using the hybrid model with those using the conventional CGE model. The cost of meeting the target is lower with the hybrid model than the conventional CGE. It is consistent with previous studies in that adding the bottom-up components to the top-down model reduces the cost of emission reduction. In an extra analysis I find that an additional regulation like RPS (Renewable Portfolio Standard) increases the cost. But special caution should be made in interpreting above results because the model uses hypothetical data and parameter values because of insufficiently available data. |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/531170BA59E87F5349257C750004A169?OpenDocument
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| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/322712
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推荐引用方式
GB/T 7714 |
S. B. Oh. Evaluating the Differential Effects of Alternative Emission Reduction Policy Instruments on Income Equality. 2012.
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