CORDIS
EU research results

CORDIS

English EN
HOP! - Macro-economic impact of High Oil Price in Europe

HOP! - Macro-economic impact of High Oil Price in Europe

Objective

To deliver quantitative and qualitative evaluations of the impact of high oil prices on EU economy and employment, the HOP! project will adopt methods and tools already used in STEPs and TRIAS, the two consortia awarded in the 6th FP to "develop, compare and assess possible scenarios for the transport system and energy supply of the future". The HOP! project will run POLES (the energy model developed within the European Research Area to produce the "World Energy Technology and climate Outlook" WETO) in interface with ASTRA (the strategic transport and macroeconomic System Dynamics Model developed in the 4th FRP for DG TREN and since then continuously improved) in a carefully selected number of scenarios.

The dynamic features of the two models are well suited to describe the consequences of step-changes in oil prices. Differently than CGE models - where price elasticities are calibrated based on past developments that never included such strong price increases - POLES and ASTRA follow the feedback lo op concept where structures and structural change, modelled trough an input output table, determine the economic outcomes. Methods, assumptions and input used in the HOP! project, as well as its outcome, shall be open to discussion within the scientific community. As this will ensure consensus on the soundness of the evaluations, quantitative and qualitative analyses produced by HOP!, will allow policy makers to answer several 'what if?' questions related to variations of oil and gas prices, their imp act on the EU economy and influence of possible policy measures.

The HOP! project final expectation is that pioneering quantitative and qualitative analysis of the impacts of high oil prices on the EU economy and employment can significantly contribute t o consolidate European strategies, including the emerging of a Common Energy Policy for Europe.

Leaflet | Map data © OpenStreetMap contributors, Credit: EC-GISCO, © EuroGeographics for the administrative boundaries

Coordinator

TRT TRASPORTI E TERRITORIO SRL

Address

Via Rutilia, 10/8
Milano

Italy

Administrative Contact

Angelo MARTINO (INg.)

Participants (2)

Sort alphabetically

Expand all

COMMISSION OF THE EUROPEAN COMMUNITIES - DIRECTORATE GENERAL JOINT RESEARCH CENTRE - JRC

Belgium

FRAUNHOFER-GESELLSCHAFT ZUR FOERDERUNG DER ANGEWANDTEN FORSCHUNG E.V

Germany

Project information

Grant agreement ID: 44164

  • Start date

    1 January 2007

  • End date

    30 June 2008

Funded under:

FP6-POLICIES

  • Overall budget:

    € 286 308

  • EU contribution

    € 199 680

Coordinated by:

TRT TRASPORTI E TERRITORIO SRL

Italy