The metal resources (METRO) model : a dynamic partial equilibrium model for metal markets applied to rare earth elements

Pothen, Frank

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URL:	https://ub-madoc.bib.uni-mannheim.de/35366
URN:	urn:nbn:de:bsz:180-madoc-353660
Document Type:	Working paper
Year of publication:	2013
The title of a journal, publication series:	ZEW Discussion Papers
Volume:	13-112
Place of publication:	Mannheim
Publication language:	English
Institution:	Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series:	Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject:	330 Economics
Classification:	JEL: F17 , Q31 , Q37,
Keywords (English):	Partial equilibrium model , metals , rare earths , exhaustible resources
Abstract:	This paper presents the METal ResOurces (METRO) model, a partial equilibrium model tailored for metal markets. It allows for a disaggregated representation of the mining sector and endogenous investment in extractive capacities. It can be calibrated to a large number of metal markets. Rare Earth Elements are the first group of metals for which the model is implemented. A new dataset on Rare Earth mines is compiled to calibrate it. First results on key developments of Rare Earth markets are presented. Extensive sensitivity analyses indicate their robustness.

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