Liquid fuels - GRACE
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GRACE simulates production and consumption of two liquid fuels, i.e., crude oil and refined oil. Their production is simulated as nested CES functions of intermediate inputs and primary factors. The liquid fuels can be used by industries, electricity generation, and households.
Corresponding documentation | |
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Previous versions | |
No previous version available | |
Model information | |
Model link | |
Institution | Center for International Climate Research (CICERO), Norway, https://cicero.oslo.no/en. |
Solution concept | General equilibrium (closed economy) |
Solution method | SimulationRecursive dynamic solution method |
Anticipation |