Economic activity - POLES
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| Corresponding documentation | |
|---|---|
| Previous versions | |
| Model information | |
| Model link | |
| Institution | JRC - Joint Research Centre - European Commission (EC-JRC), Belgium, http://ec.europa.eu/jrc/en/. |
| Solution concept | Partial equilibrium (price elastic demand) |
| Solution method | SimulationRecursive simulation |
| Anticipation | Myopic |
GDP
GDP is exogenous and is derived from various international sourcesWB 2015. Latest work used GDP assumptions from:
- latest IMF forecasts IMF 2016 (for the short run)
- EU Ageing ReportEC 2015, OECDOECD 2013dellink2014co, MIT and CEPII forecasts (for the longer run)
Consistency with population is checked.
An on-going work will allow to connect POLES to the macro-econometric model MAGE (CEPII institute / JRC) through an energy factor in the production function that will link dynamically GDP, energy intensity and energy prices.
All other economic activities variables (value added, mobility, surfaces, ...) are endogenously calculated in POLES.