Socio-economic drivers - EPPA - Revision history

Sergey Paltsev at 16:59, 11 July 2022

2022-07-11T16:59:30Z

← Older revision		Revision as of 18:59, 11 July 2022
Line 1:		Line 1:
	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, 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>.		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>.

	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

Sergey Paltsev at 20:54, 8 June 2022

2022-06-08T20:54:54Z

← Older revision		Revision as of 22:54, 8 June 2022
Line 1:		Line 1:
	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 ~~increases at the same rate as~~ the population growth, and autonomous energy efficiency improvement, 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>.		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, 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>.

	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

Sergey Paltsev at 20:52, 8 June 2022

2022-06-08T20:52:48Z

← Older revision		Revision as of 22:52, 8 June 2022
Line 1:		Line 1:
	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, and autonomous energy efficiency improvement, 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>.		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 increases at the same rate as the population growth, and autonomous energy efficiency improvement, 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>.

	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

Sergey Paltsev at 20:48, 8 June 2022

2022-06-08T20:48:34Z

← Older revision		Revision as of 22:48, 8 June 2022
Line 1:		Line 1:
	The socio-economic ~~drivers~~ of EPPA ~~include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented~~ productivity growth, ~~energy productivity growth, and natural resource assets. For each region, it~~ is ~~assumed that the labor endowment increases proportionally~~ to ~~population growth. Since expectations or projections for the~~ baseline ~~economic~~ growth ~~are often in terms~~ of ~~GDP rather than underlying~~ factors ~~such as~~ labor, ~~land, capital,~~ energy ~~productivity~~, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate; and 2) ~~endogenous~~ factors, which encompass savings, investment, ~~and~~ fossil fuel resource depletion~~. Savings~~ and ~~consumption are aggregated in a Leontief approach in~~ the ~~household’s utility function~~. ~~All savings~~ are ~~used as investment, which meets the demand for capital goods. The capital is divided into a malleable portion with all new investment being malleable~~, and ~~a vintaged non-malleable portion. Capital is region specific~~, and ~~vintaged capital is sector specific~~ <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>.		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, and autonomous energy efficiency improvement, 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>.


	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

Sergey Paltsev at 21:00, 7 June 2022

2022-06-07T21:00:26Z

← Older revision		Revision as of 23:00, 7 June 2022
Line 1:		Line 1:
	The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate; and 2) endogenous factors, which encompass savings, investment, and fossil fuel resource depletion. Savings and consumption are aggregated in a Leontief approach in the household’s utility function. All savings are used as investment, which meets the demand for capital goods. The capital is divided into a malleable portion with all new investment malleable, and a vintaged non-malleable portion. Capital is region specific, and vintaged capital is sector specific <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>.		The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate; and 2) endogenous factors, which encompass savings, investment, and fossil fuel resource depletion. Savings and consumption are aggregated in a Leontief approach in the household’s utility function. All savings are used as investment, which meets the demand for capital goods. The capital is divided into a malleable portion with all new investment being malleable, and a vintaged non-malleable portion. Capital is region specific, and vintaged capital is sector specific <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>.

Sergey Paltsev at 20:59, 7 June 2022

2022-06-07T20:59:37Z

← Older revision		Revision as of 22:59, 7 June 2022
Line 1:		Line 1:
	The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<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>		The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate; and 2) endogenous factors, which encompass savings, investment, and fossil fuel resource depletion. Savings and consumption are aggregated in a Leontief approach in the household’s utility function. All savings are used as investment, which meets the demand for capital goods. The capital is divided into a malleable portion with all new investment malleable, and a vintaged non-malleable portion. Capital is region specific, and vintaged capital is sector specific <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>.

Sergey Paltsev at 20:52, 7 June 2022

2022-06-07T20:52:50Z

← Older revision		Revision as of 22:52, 7 June 2022
Line 1:		Line 1:
	The ~~dynamics~~ of ~~the model are determined by both~~ exogenous ~~and endogenous~~ factors~~. Exogenous factors include~~ projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, ~~we assume~~ that the labor endowment increases proportionally to population growth~~. We then have the option to specify differential productivity growth for labor, capital and land~~. Since expectations ~~of future~~ economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, we have included a ~~model~~ feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<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>		The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<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>

Sergey Paltsev at 20:30, 7 June 2022

2022-06-07T20:30:10Z

← Older revision		Revision as of 22:30, 7 June 2022
Line 1:		Line 1:
	The dynamics of the model are determined by both exogenous and endogenous factors. Exogenous factors include projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, we assume that the labor endowment increases proportionally to population growth. We then have the option to specify differential productivity growth for labor, capital and land. Since expectations of future economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, we have included a model feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<ref>~~test~~</ref>		The dynamics of the model are determined by both exogenous and endogenous factors. Exogenous factors include projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, we assume that the labor endowment increases proportionally to population growth. We then have the option to specify differential productivity growth for labor, capital and land. Since expectations of future economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, we have included a model feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<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>


	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate

Sergey Paltsev at 20:25, 7 June 2022

2022-06-07T20:25:43Z

← Older revision		Revision as of 22:25, 7 June 2022
Line 1:		Line 1:
			The dynamics of the model are determined by both exogenous and endogenous factors. Exogenous factors include projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, we assume that the labor endowment increases proportionally to population growth. We then have the option to specify differential productivity growth for labor, capital and land. Since expectations of future economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, we have included a model feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.<ref>test</ref>

	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate
	\|IsDocumentationOf=EPPA		\|IsDocumentationOf=EPPA
	\|DocumentationCategory=Socio-economic drivers		\|DocumentationCategory=Socio-economic drivers
	}}		}}

Mathijs Harmsen: Edited automatically from page EPPA setup.

2020-05-02T15:04:05Z

Edited automatically from page EPPA setup.

New page

{{ModelDocumentationTemplate
|IsDocumentationOf=EPPA
|DocumentationCategory=Socio-economic drivers
}}