The Peltier effect is observed when electric current passes through the junction of two different conductors.
At one junction, heat may be absorbed.
At the other junction, heat may be evolved.
This effect depends on the direction of current flow.
Therefore, Peltier effect relates heat absorption and heat evolution at junctions to current flow.
Seebeck effect is the generation of emf due to temperature difference between two junctions.
Joule heating effect is heat generation due to electrical resistance.
Thomson effect is heat absorption or evolution in a single conductor with temperature gradient and current flow.
Therefore, the correct answer is:
\[
\text{Peltier effect}
\]