Socio-economic drivers - GEM-E3: Difference between revisions
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- Capital accumulation | - Capital accumulation | ||
In the GEM-E3 model total population and active population growth rates are set | 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. | 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 | Investment decisions by firms are endogenous and are based on Tobin's q. | ||
Revision as of 17:40, 21 October 2016
| 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.