A Model for Global Responses to Anthropogenic Changes in the Environment (GRACE)

Abstract

The GRACE model is a multi-sector, multi-regional, recursive dynamic computable general equilibrium model. It was developed for long-term economic analysis of climate change impacts and greenhouse gas abatement policy. The purpose of this report is to provide a description of the model and make available the model equations and structure. This will help in understanding and critically examining the results obtained using GRACE.