Journal article

Soft-coupling of national biophysical and economic models for improved understanding of feedbacks

GM Turner, T Baynes

Environmental Policy and Governance | Published : 2010

Abstract

Rather than attempting to create a single integrated economic-environment model of the Australian economy, this paper presents research on the linking or soft-coupling of separate environment and economic models. The model of the environment is provided by the Australian Stocks and Flows Framework (ASFF), used to identify the significant physical challenges facing Australia in the decades ahead. To address the perceived issue of missing prices in the ASFF this research explores how the link with economic models can be made, and demonstrates several advantages of taking this approach. This paper shows the results of coupling the ASFF with two different economic models, a partial equilibrium m..

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