Thailand Greenhouse Gas Management Organization (TGO) and the World Bank - Impacts of carbon pricing instruments on national economy

Figure 2.7 shows the inputs from the economy and the environment into the components of the module and Figure 2.8 shows the feedback from the energy module to the economic module. [...] In addition, The economic feedbacks are based on the fact that the same transactions model users can appear in the energy data and in the economic data, albeit in different units. [...] The E3-Thailand model assumes that rates of growth in the rest of the world are exogenous, matching the numbers in the assumptions file. [...] To avoid excessive repetition, the dummy variable is not included in the formal definitions of the econometric equations provided in the rest of this chapter, but it is an important part of the model estimation and solution. [...] The price term is a ratio of the price for the particular energy carrier in relation to that of the aggregate energy price, taking into account variations in the prices for different fuels.