Temporal dimension - GEM-E3
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| 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.