Socio-economic drivers - EPPA
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The socio-economic drivers of EPPA include: 1) exogenous factors, which consist of projections for labor endowment growth, factor-augmented productivity growth, energy productivity growth, and natural resource assets. For each region, it is assumed that the labor endowment increases proportionally to population growth. Since expectations or projections for the baseline economic growth are often in terms of GDP rather than underlying factors such as labor, land, capital, energy productivity, or resource availabilities, model developers have included a feature that automatically calibrates an additional Hick’s neutral adjustment on top of any biased growth to match a pre-specified GDP growth rate.[1]
Note: The documentation of EPPA is 'in preparation' and is not yet 'published'!| Corresponding documentation | |
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| 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 | |
- ↑ 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.