Macro-economy - EPPA: Difference between revisions

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The key socio-economic driver of EPPA is the Hick’s neutral productivity growth, which is calibrated to match a baseline GDP growth trajectory under 1) a set of exogenously given factors, including labor endowment growth, which is assumed to increase proportionally to the population growth and autonomous energy efficiency improvement (AEEI), and 2) a set of factors determined by the model dynamics, which encompass savings, investment, fossil fuel resource depletion, and the evolution of technology specific factor for each backstop technology. While the Hick’s neutral productivity levels are held constant across scenarios, changes in prices and model dynamics will determine levels of variables such as resource allocations, sectoral outputs and GDP <ref>Chen, Y.-H. H., S. Paltsev, J. Reilly, J. Morris and M. Babiker (2016). Long-term economic modeling for climate change assessment. Economic Modeling, 52, 867–883.</ref>.
EPPA is a Arrow-Debreu type of model that is the basis of the general equilibrium theory.


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{{ModelDocumentationTemplate

Revision as of 16:08, 3 August 2022

EPPA is a Arrow-Debreu type of model that is the basis of the general equilibrium theory.

Alert-warning.png Note: The documentation of EPPA is 'in preparation' and is not yet 'published'!

Model Documentation - EPPA

    Corresponding documentation
    Previous versions
    No previous version available
    Model information
    Model link
    Institution Massachusetts Institute of Technology (MIT), USA, https://globalchange.mit.edu/.
    Solution concept General equilibrium (closed economy)
    Solution method Optimization
    Anticipation
    Retrieved from "https://www.iamcdocumentation.eu/index.php?title=Macro-economy_-_EPPA&oldid=15773"