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dc.contributor.authorMAISONNAVE Heleneen_GB
dc.contributor.authorPYCROFT JONATHANen_GB
dc.contributor.authorSAVEYN Berten_GB
dc.contributor.authorCISCAR MARTINEZ Juan Carlosen_GB
dc.date.accessioned2013-10-22T00:02:06Z-
dc.date.available2012-09-05en_GB
dc.date.available2013-10-22T00:02:06Z-
dc.date.created2012-02-02en_GB
dc.date.issued2012en_GB
dc.date.submitted2012-01-25en_GB
dc.identifier.isbn978-92-79-23107-0en_GB
dc.identifier.issn1831-9424en_GB
dc.identifier.otherEUR 25224 ENen_GB
dc.identifier.otherOPOCE LF-NA-25224-EN-Nen_GB
dc.identifier.urihttp://ipts.jrc.ec.europa.eu/publications/pub.cfm?id=4942en_GB
dc.identifier.urihttp://publications.jrc.ec.europa.eu/repository/handle/JRC68858-
dc.description.abstractThe European Union has committed itself to reduce greenhouse gas (GHG) emissions by 20% in 2020 compared with 1990 levels. This paper investigates whether this policy has an additional benefit in terms of economic resilience by protecting the EU from the macroeconomic consequences due to an oil price rise. We use the GEM-E3 computable general equilibrium model to analyze the results of three scenarios. The first one refers to the impact of an increase in the oil price. The second scenario analyses the European climate policy and the third scenario analyses the oil price rise when the European climate policy is implemented. Unilateral EU climate policy imposes a cost on the EU of around 1.0% of GDP. An oil price rise in the presence of EU climate policy does impose an additional cost on the EU of 1.5% of GDP, but this is less than the 2.2% of GDP that the EU would lose from the oil price rise in the absence of climate policy. This is evidence that even unilateral climate policy does offer some economic protection for the EU.en_GB
dc.description.sponsorshipJRC.J.1-Economics of Climate Change, Energy and Transporten_GB
dc.format.mediumOnlineen_GB
dc.languageENGen_GB
dc.publisherPublications Office of the European Unionen_GB
dc.relation.ispartofseriesJRC68858en_GB
dc.titleDoes climate policy make the EU economy more resilient to oil price rises? A CGE analysisen_GB
dc.typeEUR - Scientific and Technical Research Reportsen_GB
dc.identifier.doi10.2791/73439en_GB
JRC Directorate:Growth and Innovation

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