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2007
- handle: 10670/1.xdqkz5
- halshs: halshs-00639321
- doi: 10.1007/s10640-006-9075-2
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info:eu-repo/semantics/altIdentifier/doi/10.1007/s10640-006-9075-2
info:eu-repo/semantics/OpenAccess
Mots-clés
Resource conservation energy conservation public spending employment general equilibrium multi-sectors modelsSujets proches
Energy resources Power supply Energy Energy Conservation of energy Correlation of forces EnergyCiter ce document
Meriem Hamdi-Cherif et al., « General equilibrium impact of an energy-saving policy in the public sector », HAL-SHS : économie et finance, ID : 10.1007/s10640-006-9075-2
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Résumé
We analyse a disregarded environmental policy instrument: a switch in government expenditure away from energy (or other natural resources) and toward a composite good which includes energy-saving expenditure. We first develop two variants of an analytical general equilibrium model. A composite good is produced with constant returns to scale, and energy is imported or produced domestically with diminishing returns, yielding a differential rent to its owners. The government purchases energy and composite goods from private firms. Such a policy unambiguously increases employment. It also raises private consumption and welfare under two conditions: (i) it is not too costly and (ii) the initial share of the resource is smaller in public spending than in private consumption, or the difference is small enough. We then run numerically a model featuring both importation and domestic production of energy (oil, gas and electricity), for the OECD as a whole. Simulations show that employment, welfare and private consumption rise. We provide magnitudes for different parameter values.