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Final Report - HOP! (HOP! - Macro-economic impact of High Oil Price in Europe)

Project ID: 44164
Funded under: FP6-POLICIES


This is the final report of the HOP! research project, which has been co-funded by the European Commission DG Research to provide quantitative and qualitative analysis of direct and indirect impacts on the European economy of long term oil price escalation. The study has been undertaken by three partners, with TRT Trasporti e Territorio (Italy) taking the lead and collaborating with Fraunhofer Institute Systems and Innovation research (Germany) and the Institute for Prospective Technological Studies of the European Commission DG JRC (Spain).

The report begins with a description of current situation in oil prices and how they affect the EU, which serves as motivation for the HOP! research objectives. After a reference to past examples of oil crisis impacts and the explanation of the difference with current situation, the methodology of the research is explained. The key assumptions for the models are presented and then the different scenarios are analysed. Summary of results and policy implications follow and the document ends with conclusions and recommendations for policymakers.

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