Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revision Previous revision
baseline [2019/06/03 08:36]
jfoure [Calibration in the baseline exercise]
baseline [2019/06/03 08:37] (current)
jfoure [General presentation of the baseline design]
Line 20: Line 20:
     * In this step, the GDP trajectory is imposed to the model in order to calibrate the trajectory of TFP growth     * In this step, the GDP trajectory is imposed to the model in order to calibrate the trajectory of TFP growth
   * Step 2 : Other assumptions are implemented in the second step (e.g. large free trade agreements, Paris agreement)   * Step 2 : Other assumptions are implemented in the second step (e.g. large free trade agreements, Paris agreement)
-    * This step takes the productivity calibrated in step 1 as given, and let GDP be endogenous to account for the GDP effects ​of baseline assumptions+    * This step takes the productivity calibrated in step 1 as given, and let GDP be endogenous
 +    * This allows ​to account for the effect ​of baseline assumptions ​on GDP and energy prices
 ===== GDP projections ===== ===== GDP projections =====