GreenREFORM-EUVersion 2.0 · Open source
Score climate policy for emissions and macro-fiscal impact in the same model
GreenREFORM-EU is a dynamic computable general equilibrium model designed to meet the needs of finance ministries, planning bureaus and emissions agencies alike. It scores carbon prices, technology subsidies, mandates and green investment for their effect on emissions, and for the macro-fiscal consequences.
What makes it different
Fuel switching, electrification and carbon capture are discrete decisions. Most frameworks either leave them out of the economic model or solve a separate engineering model and pass results back and forth.
GreenREFORM-EU represents them continuously and solves them in the same equation system as the macroeconomic core. A technology-specific policy can therefore be scored for emissions and for output, employment, investment and the public finances at once.
The technology block is called the energy technology model. DREAM project reports have also called it the abatement model; they are the same thing.
In brief
- Dynamic CGE of a small open economy, annual, forward-looking agents
- National accounts integrated with energy balances and greenhouse gases
- Hard-linked energy technology model
- Modular: run a module in partial equilibrium or the whole system
- GAMS with Python, published as open source
Built for ministry work
What it can score
Carbon and energy taxation, emission trading, technology subsidies, mandates and public investment, with the macro-fiscal consequences of each.
Calibrated to your country
National accounts and energy balances. The industry list comes from the data set, not from a fixed template.
What you set
The core carries no country-specific rules. The exchange rate regime, whether funding binds, and how wages respond to demand are set for the economy you are modelling. The results turn on those choices.
Where it comes from
GreenREFORM-EU was developed under the European Commission's Technical Support Instrument, building on GreenREFORM, the climate and environmental model used by the Danish government, and through it on MAKRO, DREAM's model for the Danish Ministry of Finance. Version 2.0 was funded by the KR Foundation to refine the model, generalise the architecture and produce the documentation.
Each disc is a model in DREAM's family. The size is the reach of the calibration, not the size of the model: GreenREFORM-EU is the one that other countries build on.