Macro-economy - EPPA - Revision history

Sergey Paltsev at 15:49, 4 August 2022

2022-08-04T15:49:50Z

← Older revision		Revision as of 17:49, 4 August 2022
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	Each period of EPPA forms a Arrow-Debreu type of model that is the basis of the general equilibrium theory. The recursive structure connects periods together through the evolution of endowments (see model scope and methods). Since the main application of EPPA is to provide long-term projections under some counterfactual scenarios rather than short-term business fluctuations, the model only focuses on the real variables of economies without considering the monetary markets and financial instruments.		Each period of EPPA forms an Arrow-Debreu type of model that is the basis of the general equilibrium theory. The recursive structure connects periods together through the evolution of endowments (see model scope and methods). Since the main application of EPPA is to provide long-term projections under some counterfactual scenarios rather than short-term business fluctuations, the model only focuses on the real variables of economies without considering the monetary markets and financial instruments.

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2022-08-03T15:19:58Z

← Older revision		Revision as of 17:19, 3 August 2022
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	Each period of EPPA forms a Arrow-Debreu type of model that is the basis of the general equilibrium theory. The recursive structure connects periods together through the evolution of endowments.		Each period of EPPA forms a Arrow-Debreu type of model that is the basis of the general equilibrium theory. The recursive structure connects periods together through the evolution of endowments (see model scope and methods). Since the main application of EPPA is to provide long-term projections under some counterfactual scenarios rather than short-term business fluctuations, the model only focuses on the real variables of economies without considering the monetary markets and financial instruments.

	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

2022-08-03T15:11:27Z

← Older revision		Revision as of 17:11, 3 August 2022
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	EPPA is a Arrow-Debreu type of model that is the basis of the general equilibrium theory.		Each period of EPPA forms a Arrow-Debreu type of model that is the basis of the general equilibrium theory. The recursive structure connects periods together through the evolution of endowments.

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2022-08-03T15:08:45Z

← Older revision		Revision as of 17:08, 3 August 2022
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	~~The key socio-economic driver of~~ EPPA is ~~the Hick’s neutral productivity growth, which is calibrated to match~~ a ~~baseline GDP growth trajectory under 1) a set~~ of ~~exogenously given factors, including labor endowment growth, which~~ is assumed to increase proportionally to the population growth and autonomous energy efficiency improvement (AEEI), and 2) a set of factors determined by the model dynamics, which encompass savings, investment, fossil fuel resource depletion, and the ~~evolution~~ of ~~technology specific factor for each backstop technology. While~~ the Hick’s neutral productivity levels are held constant across scenarios, changes in prices and model dynamics will determine levels of variables such as resource allocations, sectoral outputs and GDP <ref>Chen, Y.-H. H., S. Paltsev, J. Reilly, J. Morris and M. Babiker (2016). Long-term economic modeling for climate change assessment. Economic Modeling, 52, 867–883.</ref>.		EPPA is a Arrow-Debreu type of model that is the basis of the general equilibrium theory.

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2022-08-03T14:35:53Z

← Older revision		Revision as of 16:35, 3 August 2022
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			The key socio-economic driver of EPPA is the Hick’s neutral productivity growth, which is calibrated to match a baseline GDP growth trajectory under 1) a set of exogenously given factors, including labor endowment growth, which is assumed to increase proportionally to the population growth and autonomous energy efficiency improvement (AEEI), and 2) a set of factors determined by the model dynamics, which encompass savings, investment, fossil fuel resource depletion, and the evolution of technology specific factor for each backstop technology. While the Hick’s neutral productivity levels are held constant across scenarios, changes in prices and model dynamics will determine levels of variables such as resource allocations, sectoral outputs and GDP <ref>Chen, Y.-H. H., S. Paltsev, J. Reilly, J. Morris and M. Babiker (2016). Long-term economic modeling for climate change assessment. Economic Modeling, 52, 867–883.</ref>.

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2020-05-02T15:05:35Z

Edited automatically from page EPPA setup.

New page

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