Reference and Policy Scenarios of CGE Model

Barun Deb Pal (), Vijay P. Ojha (), Sanjib Pohit and Joyashree Roy
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Barun Deb Pal: Institute for Social and Economic Change (ISEC)
Vijay P. Ojha: Institute of Management Technology

Chapter 7 in GHG Emissions and Economic Growth, 2015, pp 95-118 from Springer

Abstract: Abstract Typically, a computable general equilibrium (CGE) model is employed to develop, first and foremost, what could be called the “no-policy” or “benchmark” scenario, but is conventionally alluded to as the baseline or business-as-usual (BAU) scenario, or simply reference scenario. Subsequently, it is usually run to generate counterfactual policy scenarios, which are then compared with respect to the reference scenario to derive policy lessons. In accordance with this convention in CGE analysis, we have developed a reference scenario, without any market-based instrument for climate change mitigation, and two carbon tax scenarios in which producers are fiscally incentivised to switch to cleaner sources of energy.

Keywords: Carbon tax; GDP; Factor Productivity; Energy efficiency; CGE; Policy scenario (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-81-322-1943-9_7

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