Capital and labour markets - EPPA

Capital markets are region-specific. In each region, there is a capital market for the malleable capital, which moves freely across sectors to equalize the rate of return of capital. For the vintage (nonmalleable) capital it is locked into a sector (i.e., sector-specific) and will not be able to be traded in a capital market to search for a higher rate of return in other sectors. In EPPA, labor markets are also region-specific. In the standard EPPA setting, labor is homogenous and can move across sectors freely to equalize the wage rate.

Note: The documentation of EPPA is 'in preparation' and is not yet 'published'!

Model Documentation - EPPA
Corresponding documentation
AIM-Hub BLUES C3IAM COFFEE-TEA DNE21+ GEM-E3 GRACE IMACLIM PROMETHEUS WITNESS
Previous versions
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Model information
Model link	https://globalchange.mit.edu/research/research-tools/eppa
Institution	Massachusetts Institute of Technology (MIT), USA, https://globalchange.mit.edu/.
Solution concept	General equilibrium (closed economy)
Solution method	Optimization
Anticipation