Socio-economic drivers - GEM-E3

From IAMC-Documentation
Jump to navigation Jump to search

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

    The main drivers of growth in the GEM-E3 model are:

    - Population growth

    - Technical progress

    - Capital accumulation.

    In the GEM-E3 model total population and active population growth rates are set exogenously. The model computes endogenously unemployment rates for skilled and unskilled labour. Technical progress can be exogenous or endogenous based on learning by doing, learning by research functions. Investment decisions by firms are endogenous and are based on Tobin's q.