Macroeconometric Model to Allow Energy Policy Analysis on Changing Fuel, Specific Prices, and Production Capacities

摘要

Work on objectives to: provide EIA with a long-term macroeconomic forecasting model containing an embedded price sensitive input-output matrix; develop a satisfactory theoretical framework which allows for variable elasticities of substitution within the input-output matrix; and estimate and implement this theoretical framework subject to the constraints of data availability is described. The resulting variable substitution elasticity equations have been incorporated into the Wharton Annual and Industry Forecasting Model (WAIFM) and are currently available via timesharing access. (ERA citation 09:002531)