The Challenge
A provincial ministry engaged Deetken to estimate the economic costs and benefits of existing and proposed climate change policies and programs.
Our Approach
The Deetken team used advanced data analytics and modelling techniques to develop a powerful economic model that can evaluate the economic impact to the Province in terms of GDP, jobs, economic output, provincial tax revenue, and other economic indicators, as well as the impact to changes in consumption, investment, imports, and exports.
We provided results at the aggregate, sectoral, regional, and household levels.
We also conducted extensive desktop research of academic papers, industry reports and case studies to find own-price and trade elasticities at the product level to inform the economic model.
Outcome
The economic model we created became the basis for the Deetken Dynamic All-Economy Model, which can estimate the impacts of proposed B.C. government policy (or bundles of policies) across all sectors of the economy and which reconciles with official B.C. government forecasts.
Our model is the first-of-its-kind that we are aware of that produces such detailed estimates of impacts arising from government-wide initiatives that aligns to official government forecasts.
12%
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