A comparative overview of models is given here. The first section describes the overall structure of the different global macro models; the second section discusses differences in structural assumptions (e.g. time scale, technologies, scope and disaggregation) and in critical parameter values (especially the value of AEEI and ease of factor substitution). Model results are then compared, using tests where the baseline inputs and scenario design have been standardised as far as possible. The final part addresses the limitations of the models, and how far their assumptions pre-determine the results they produce. This work draws on the surveys by Boero et al. (1991) and Cline (1991, 1992) and the OECD surveys by Dean and Hoeller (1992) and Hoeller et al. (1991, 1992).
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