Study on the Macroeconomics of the Energy Union

  • Project no.251695
  • Duration 12/2018 - 05/2021

This study improves the understanding of the real-world linkages between the energy system and the economy. Macroeconomic models should be used to aid the process of developing this understanding and are further developed themselves during the study. Specific objectives of analysis:

  • consider macro-level outcomes but also impacts at a more disaggregated level, including on economic sectors and household groups 
  • policy relevance to the Energy Union, and broader drivers of economic growth. Energy/carbon prices, and complex interaction with innovation    
  • interaction of energy transition with other mega-trends    
  • results at EU, Member State and subnational level  
  • ex post assessment of EU policy and lessons for future policy design 
  • qualitative and quantitative tools   
  • consider both the quality and quantity of the economic growth  
  • Finance and financial constraints, interaction finance/technology development/deployment    

The role of Wuppertal Institute in Task 5 of the study as a sub-contractor to Cambridge Econometrics is gathering and processing of micro data from European surveys and provision to modellers in order to advance models in terms of further disaggregation of sectors. A second task is the development of energy poverty indicators and their integration/link to macroeconomic models.

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