TRANSrisk Working Documents, Issue 2: "Macroeconomic implications of switching to process-emission-free iron and steel production in Europe", November 2017

The 2^nd issue of TRANSrisk Working Documents entitled "Macroeconomic implications of switching to process-emission-free iron and steel production in Europe" has been published.

The issue is co-authored by Jakob Mayer, Gabriel Bachner and Karl W. Steininger from University of Graz (UniGraz), and analyses a switch of the European iron and steel industry towards production technologies free of industrial process emissions, as well as its sectoral, macroeconomic and social implications. The study applies a recursive-dynamic multi-region multi-sector computable general equilibrium approach in order to cover feedback effects originating from the integration of European sectors in a globally embedded context. More particularly, it is examined how the range of macroeconomic implications depends on (i) the timing of the switch (either starting early in 2020 or late in 2035) and (ii) the investment and operating cost of two promising low-carbon technologies.