XML FeedsThe 2008 WITCH Model: New Model Features and Baseline
By CostBenefit on Nov 4, 2009 | In Energy, Climate Change GHG Carbon CO2, Academic Study/Journal Article, Economic Development and Green Jobs, Agriculture, Forestry and Food, Regulatory Analysis, Computer Software/Database, Research Institute NGO NonProfit, Environmental Economics / Ecological Economics, Costs and Benefits | Send feedback »
Link: http://www.feem.it/Feem/Pub/Publications/WPapers/WP2009-085.htm
Summary: WITCH is an energy-economy-climate model developed by the climate change group at the Fondazione Eni Enrico Mattei (FEEM). The model has been extensively used in the past 3 years for the economic analysis of climate change policies. WITCH is a hybrid top-down economic model with a representation of the energy sector of medium complexity. Two distinguishing features of the WITCH model are the representation of endogenous technological change and the game–theoretic set-up. Technological change is driven by innovation and diffusion processes, both of which feature international spillovers. World countries are grouped in 12 regions which interact with each other in a setting of strategic interdependence. This paper describes the updating of the base year data to 2005 and some new features: the inclusion of non-CO2 greenhouse gases and abatement options, the new specification of low carbon technologies and the inclusion of reducing emissions from deforestation and degradation.
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In the model investment costs per kwh decline from $1,906 in 2010 to $1,010 in 2050 to 649 in 2100. CO2 emissions grow at a declining rate from the current 8 GtC to over 23 GtC in 2010. Temperatures rise steadily by 3 degrees centigrade to 2010.
by Enrica De Cian, Valentina Bosetti 1, 2 and 3, Alessandra Sgobbi 1 and 4, Massimo Tavoni 1, 2 and 3
1. Fondazione Eni Enrico Mattei
2. PEI Princeton University
3. CMCC
4. European Commission
Fondazione Eni Enrico Mattei www.feem.it
Working Paper 85.09, 2009
