Energy policy extensions of KLE based macroeconomic models

Carpos, P; Karadeloglou, P; Mentzas, GN

dc.contributor.author	Carpos, P	en
dc.contributor.author	Karadeloglou, P	en
dc.contributor.author	Mentzas, GN	en
dc.date.accessioned	2014-03-01T01:07:26Z
dc.date.available	2014-03-01T01:07:26Z
dc.date.issued	1989	en
dc.identifier.issn	0161-8938	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/10000
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-38249024955&partnerID=40&md5=6aa043e151fba222420ce44dc7f847c8	en
dc.subject.classification	Economics	en
dc.title	Energy policy extensions of KLE based macroeconomic models	en
heal.type	journalArticle	en
heal.language	English	en
heal.publicationDate	1989	en
heal.abstract	Aiming at the enhancement of the energy analysis capabilities of macroeconomic models, this paper analyzes the issue arising from the linkage of an economic model with KLE (or KLEM) production function and an energy model with process analysis details and an explicit treatment of engineering aspects. The problem concerns: a) the replacement of the derived energy demand equation of the KLE block in the macroeconomic model with the estimation inherent in the energy one, b) the use of the detailed energy price formation mechanism coming from the energy model. The issue is treated both in a theoretical and an empirical context. The former is related to the construction of an aggregate core macroeconomic model which is solved analytically to derive the sufficient conditions under which its simulation properties remain unaltered when the energy demand equation is replaced. The latter concerns the linkage and the use of two large-scale European models, namely the macroeconomic HERMES and the enrgy MIDAS models. © 1989.	en
heal.publisher	ELSEVIER SCIENCE INC	en
heal.journalName	Journal of Policy Modeling	en
dc.identifier.isi	ISI:A1989CH06400002	en
dc.identifier.volume	11	en
dc.identifier.issue	4	en
dc.identifier.spage	507	en
dc.identifier.epage	530	en