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You are here: Mathematical Models GEM-E3

The GEM-E3 Model

The GEM-E3 (World and Europe) model is an applied general equilibrium model, simultaneously representing World regions and European countries, linked through endogenous bilateral trade flows and environmental flows. The European model includes all member states individually and Switzerland. The world model version includes 38 countries/regions where all EU member states and the largest economies globally (USA, China, Brazil, Russia, Canada, India etc.) are individually represented. GEM-E3 aims at covering the interactions between the economy, the energy system and the environment. It is a comprehensive model of the economy, the productive sectors, consumption, price formation of commodities, labour and capital, investment and dynamic growth. The model is dynamic, recursive over time, driven by accumulation of capital and equipment. Technology progress is explicitly represented in the production function, either exogenous or endogenous, depending on R&D expenditure by private and public sector and taking into account spillovers effects. The current GEM-E3 version has been updated to the GTAP8 database (base year 2007) and has been updated with the latest Eurostat statistics for the EU Member States.

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Manual of GEM-E3
Selected Applications of GEM-E3