Economic activity - GEM-E3
|Model Documentation - GEM-E3|
|Institution||Institute of Communication And Computer Systems (ICCS), Greece, .|
|Solution concept||General equilibrium|
|Solution method||The model is formulated as a simultaneous system of equations with an equal number of variables. The system is solved for each year following a time-forward path. The model uses the GAMS software and is written as a mixed non-linear complementarity problem solved by using the PATH algorithm using the standard solver options.|
The model captures the inter-relations of all economic agents of the economic system and computes endogenously sectoral production, sectoral value added, GDP and its components, incomes and employment.