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2020
DOI: 10.1016/j.enpol.2019.111090
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Macroeconomic modelling under energy constraints: Global low carbon transition scenarios

Abstract: Integrated Assessment Models provide a framework to study sustainability transitions and their economic impacts. Models seldom consider energy constraints, taking supply availability for granted and thus suggesting a mere change in the energy mix from non-renewables to renewables. In order to address these limitations, a macroeconomic module within a broader system dynamics model (MEDEAS) has been developed. The model has been run for the whole world from 1995 to 2050 under three different scenarios: Business … Show more

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Cited by 104 publications
(63 citation statements)
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References 59 publications
(65 reference statements)
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“…The ability to manage post-growth economies will be the object of further work. 24,72 Fig . 3 shows the schematic overview of the Economy module of the MEDEAS framework.…”
Section: Description Of Medeas-world Modelmentioning
confidence: 99%
See 2 more Smart Citations
“…The ability to manage post-growth economies will be the object of further work. 24,72 Fig . 3 shows the schematic overview of the Economy module of the MEDEAS framework.…”
Section: Description Of Medeas-world Modelmentioning
confidence: 99%
“…¶ 73 The Leontief matrix L allows the model to estimate both direct and indirect production carriers of final monetary demand, measuring the production sensitivity to final monetary demand. See Nieto et al 72 for the analysis and discussion of different economic structure scenarios by setting a target A matrix to which the current one gradually evolves.…”
Section: Description Of Medeas-world Modelmentioning
confidence: 99%
See 1 more Smart Citation
“…Apart from the work that has been carried out on (and combined with) policy-making, from an academic perspective, several efforts to model a sustainable energy model have been made. The MEDEAS project [40] is one of the best examples, a tool to design the transition into a 100% renewable energy system (RES) in Europe. This initiative considers three different scenarios to model the energetic macro-economic system from 1995 to 2050: Business as Usual (BAU), Green Growth (GG) and the Post-Growth or degrowth approach (PG).…”
Section: Introductionmentioning
confidence: 99%
“…Population evolves exogenously as defined by the user. See [102] for more details on this sub-module. The main characteristics of each module are:…”
Section: Discussionmentioning
confidence: 99%