Socio-economic drivers - GEM-E3: Difference between revisions
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The main drivers of growth in the GEM-E3 model are: | The main drivers of growth in the GEM-E3 model are: | ||
- Population growth | - Population growth | ||
- Technical progress | - Technical progress | ||
- Capital accumulation | |||
- 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. | 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 Tobin's q. | Investment decisions by firms are endogenous and are based on Tobin's q. | ||
Latest revision as of 09:18, 24 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.