Temporal dimension - GRACE
GRACE is calibrated around a base year (2014 in Nov. 2020). The base year is updated following the latest GTAP database. Then the model can be solved yearly until a future year, such as 2050 and 2100 by updating external variables every year.
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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|