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The aggregate effects of the structure of information in low-carbon transition policies: An application to France

Author

Listed:
  • Darius Corbier
  • Frédéric Gonand

    (Chaire économie du climat - Chaire économie du climat, SAPRAT - Savoirs et Pratiques du Moyen Âge à l'époque contemporaine (SAPRAT - EA 4116) - EPHE - École Pratique des Hautes Études - PSL - Université Paris Sciences et Lettres, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique)

Abstract

Whether the agents anticipate or not the low-carbon policies in the power system in the long run may influence the macroeconomic impacts of these policies. We combine a hybrid model that links a core dynamic general equilibrium model calibrated on French data to an optimization model for the power generation mix that characterizes the optimal development of each technology in the long run. The results show how the effects of the low-carbon energy transition on decarbonization, growth, and households' well-being depend on whether the agents anticipate or not the decarbonization plan. Investment in durable goods and physical capital plays a critical role in explaining the results. Unanticipated low-carbon policies may result in slower decarbonization of the economy and higher economic growth.

Suggested Citation

  • Darius Corbier & Frédéric Gonand, 2023. "The aggregate effects of the structure of information in low-carbon transition policies: An application to France," Post-Print hal-04490115, HAL.
    • Handle: RePEc:hal:journl:hal-04490115
    as

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