In:
Journal of the European Economic Association, Oxford University Press (OUP), ( 2023-06-14)
Abstract:
The energy transition requires substantial amounts of metals, including copper, nickel, cobalt, and lithium. Are these metals a bottleneck? We identify metal-specific demand shocks, estimate supply elasticities, and study the price impact of the transition in a structural scenario analysis. Prices of these four metals would reach previous historical peaks but for an unprecedented, sustained period in a net-zero emissions scenario, potentially derailing the energy transition. Their production value would rise nearly four-fold to USD 11 trillion for the period 2021–2040. These four metals markets alone could become as important to the global economy as the oil market.
Type of Medium:
Online Resource
ISSN:
1542-4766
,
1542-4774
DOI:
10.1093/jeea/jvad039
Language:
English
Publisher:
Oxford University Press (OUP)
Publication Date:
2023
detail.hit.zdb_id:
2114709-7
detail.hit.zdb_id:
2118178-0
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