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Economic Modeling of Water

The Australian CGE Experience

  • Book
  • © 2012

Overview

Editors:
  1. Glyn Wittwer

    1. Monash University, Centre of Policy Studies, Clayton, Australia

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  • Case studies explore internationally relevant policy implications
  • Provides the full theoretical basis of a CGE model with water accounts that distinguish between dry-land and irrigation agriculture
  • Combines localised regional analysis with broader national implications
  • Includes detailed structural analysis as a starting point for explaining modeled outcomes

Part of the book series: Global Issues in Water Policy (GLOB, volume 3)

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-xv
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  2. Practical Policy Analysis Using TERM

    • Glyn Wittwer
    Pages 1-9

  3. The TERM Approach

    1. Front Matter

      Pages 11-11
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    2. The TERM Model and Its Database

      • Mark Horridge
      Pages 13-35

    3. Introducing Dynamics to TERM

      • Glyn Wittwer, George Verikios
      Pages 37-55

  4. Water Modeling

    1. Front Matter

      Pages 57-57
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    2. Water Resources Modeling: A Review

      • Marnie Griffith
      Pages 59-77

    3. The Theory of TERM-H2O

      • Peter B. Dixon, Maureen T. Rimmer, Glyn Wittwer
      Pages 79-98

    4. Buybacks to Restore the Southern Murray-Darling Basin

      • Peter B. Dixon, Maureen T. Rimmer, Glyn Wittwer
      Pages 99-118

    5. The Economic Consequences of a Prolonged Drought in the Southern Murray-Darling Basin

      • Glyn Wittwer, Marnie Griffith
      Pages 119-141

    6. Urban Water Supply: A Case Study of South-East Queensland

      • Glyn Wittwer
      Pages 143-162

    7. Applying TERM-H2O to Other Countries

      • Glyn Wittwer
      Pages 163-178

  5. Back Matter

    Pages 179-186
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Keywords

About this book

The book details the innovative TERM (The Enormous Regional Model) approach to regional and national economic modeling, and explains the conversion from a comparative-static to a dynamic model. It moves on to an adaptation of TERM to water policy, including the additional theoretical and database requirements of the dynamic TERM-H2O model. In particular, it examines the contrasting economic impacts of water buyback policy and recurring droughts in the Murray-Darling Basin. South-east Queensland, where climate uncertainty has been borne out by record-breaking drought and the worst floods in living memory, provides a chapter-length case study. The exploration of the policy background and implications of TERM’s dynamic modeling will provide food for thought in policy making circles worldwide, where there is a pressing need for solutions to similarly intractable problems in water management.

Editors and Affiliations

  • Monash University, Centre of Policy Studies, Clayton, Australia

    Glyn Wittwer

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