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The Economic Impact of Coal-Fired Versus Nuclear Power Plants: An Application of a General Equilibrium Model

In recent years, the literature in the field of general equilibrium modeling has increased. For long-term energy projections, general equilibrium models are more adequate than standard econometrics in evaluating alternative economic policies in a theoretically consistent framework. The well-known structure and economic mechanism of those models makes it easier to analyze structural changes of prices and quantities demanded or supplied for a given data set of an economy, national income accounts figures, and trade balance effects. The dynamic formulation of these models via investment decisions and capital formation also enables an intertemporal interpretation of structural adjustment and growth processes.

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Energy Specializations: Coal – Policy and Regulation; Nuclear Power – Policy and Regulation; Electricity – Policy and Regulation

JEL Codes: Q40: Energy: General, Q41: Energy: Demand and Supply; Prices, D22: Firm Behavior: Empirical Analysis

Keywords: Coal, Nuclear, Electric utilities, GE model, Germany, Electricity generation

DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No4-3

Published in Volume 7, Number 4 of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.


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