Temporal dimension - GEM-E3

From IAMC-Documentation
Jump to navigation Jump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.

Model Documentation - GEM-E3

Corresponding documentation
Previous versions
Model information
Model link
Institution Institute of Communication And Computer Systems (ICCS), Greece, https://www.iccs.gr/en/.
Solution concept General equilibrium (closed economy)
Solution method Optimization
Anticipation

GEM-E3 is a recursive dynamic model solved sequentially over time. In GEM-E3 model agents have myopic expectations. Their future planning is based on current prices. It is assumed that investment that takes place in time t increases the production capacity at time t+1. The current version of the GEM-E3 is calibrated to 2011 (base year data). The model runs up to 2050 with 5 year time steps.