Energy resource endowments - 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.|
GEM-E3 considers only energy related depletable resources. Coal, oil and gas sectors are associated with the respective reserves. For the depletable resource sectors reserves are considered to be a discrete production factor. The international price of the fossil fuel is calculated so as to balance total supply and total demand of reserves.