Residential and commercial sectors - GRACE
GRACE simulates consumption of one residential sector - private households. The residential sector consumes coal, oil, gas and electricity as well as other consumption goods, following a combination of a nested CES function. Commercial activities are included in the activities of the only sector of services, which use coal, oil, gas and electricity as well as other inputs, following a combination of a nested CES function.
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|Institution||Center for International Climate Research (CICERO), Norway, https://cicero.oslo.no/en.|
|Solution concept||General equilibrium (closed economy)|
|Solution method||SimulationRecursive dynamic solution method|