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Modelling the Regional Economic Consequences of Efficiency Gains in the Utilities Sector

Author

Listed:
  • Giesecke, J.
  • Madden, J.R.

    (Centre of Policy Studies, Monash University, Melbourne, VIC)

Abstract

There have been a number of computable general equilibrium (CGE) studies quantifying the economic impact of national competition policy (NCP). They typically involve long-run comparative static simulations with the most important shock being productivity improvements. These improvements are set equal to the productivity gap between relevant Australian industries and overseas counterparts (as measured by such methods as data envelopment analysis). The size of the estimated gaps and the assumption that NCP will eliminate them has been called into question. This paper develops an alternative approach that uses historical modelling with a dynamic multiregional CGE model (FEDERAL-F) to uncover changes, consistent with observed data, in the rate of productivity improvements in the utilities sector have had on the economies of Tasmania and mainland Australia, concentrating in particular on the Tasmanian results.

Suggested Citation

  • Giesecke, J. & Madden, J.R., 2004. "Modelling the Regional Economic Consequences of Efficiency Gains in the Utilities Sector," Economic Analysis and Policy, Elsevier, vol. 34(1), pages 15-35, March.
    • Handle: RePEc:eee:ecanpo:v:34:y:2004:i:1:p:15-35
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    Cited by:

    1. Verikios, George & Zhang, Xiao-guang, 2013. "Structural change in the Australian electricity industry during the 1990s and the effect on household income distribution: A macro–micro approach," Economic Modelling, Elsevier, vol. 32(C), pages 564-575.

    More about this item

    Keywords

    CGE; Computable General Equilibrium; Equilibrium; General Equilibrium; Regional;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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