Economic activity - PROMETHEUS

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GDP is exogenous in PROMETHEUS and is derived from various international sources, including:

  • latest IMF forecasts (for the short run)
  • EU Ageing Report (for EU countries)
  • IEA and OECD forecasts (for non-EU countries in the longer term)

The consistency of GDP assumptions with population is checked for each region, in terms of robust development of GDP per capital indicator.

PROMETHEUS can also use the macro-economic projections of the CGE model GEM-E3 for the specific regions, while it can also incorporate different GDP projections (as those described in the Shared Socioeconomic Pathways)

All other economic activities variables (industrial value added, mobility, incomes, cars per capita) are endogenously calculated in PROMETHEUS, as a function of historic development patterns and the future development of GDP per capital and energy costs in various sectors.

Alert-warning.png Note: The documentation of PROMETHEUS is 'under review' and is not yet 'published'!

Model Documentation - PROMETHEUS

Corresponding documentation
Previous versions
No previous version available
Model information
Model link https://e3modelling.com/modelling-tools/prometheus/
Institution E3Modelling (E3M), Greece, https://e3modelling.com/modelling-tools.
Solution concept Partial equilibrium (price elastic demand)
Solution method Simulation
Anticipation Energy system simulation.Foresight is included only is some sub-modules (i.e. electricity generation)