Economic Modeling of Water The Australian CGE Experience [Paperback]

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 TERMs 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.This book details the TERM (The Enormous Regional Model) approach to regional modeling. It focuses on applications to water policy and includes details of additional theory and database requirements of dynamic TERM-H2O.

Foreword

Preface

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??????????? 1. Practical Policy Analysis Using TERM

PART I: The TERM Approach

??????????? 2. The TERM Model and its Data Base

??????????? 3. Introducing Dynamics to TERM

PART II: Water Modeling

??????????? 4. Water Resources Modeling: A Review

??????????? 5. The Theory of TERM-H2O

??????????? 6. Buybacks to Restore the Southern Murray-Darling Basin

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

??????????? 8. Urban Water Supply: A Case Study of South-east Queensland