"CIM-EARTH: Framework and Case Study"
J. Elliott, I. Foster, K. Judd, E. Moyer, and T. Munson
B.E. Journal of Economic Analysis & Policy, vol. 10, no. 2, . Also Preprint ANL/MCS-P1710-1209
Preprint Version: [pdf]
General equilibrium models have been used for decades to obtain insights into the economic impli- cations of policies and decisions. Despite successes, however, these economic models have substantive limitations. Many of these limitations are due to computational and methodological constraints that can be overcome by leveraging recent advances in computer architecture, numerical methods, and economics research. Motivated by these considerations, we are developing a new modeling framework: the Community Integrated Model of Economic and Resource Trajectories for Humankind (CIM-EARTH). In this paper, we describe our framework and initial implementation and its application to a case study on carbon leakage, the impact of a unilateral carbon emissions policy on the global movement of industrial production capacity away from that region.