IMF Working Papers

IMF-ENV: Integrating Climate, Energy, and Trade Policies in a General Equilibrium Framework

By Jean Chateau, Hugo Rojas-Romagosa, Sneha D Thube, Dominique van der Mensbrugghe

April 11, 2025

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Format: Chicago

Jean Chateau, Hugo Rojas-Romagosa, Sneha D Thube, and Dominique van der Mensbrugghe. "IMF-ENV: Integrating Climate, Energy, and Trade Policies in a General Equilibrium Framework", IMF Working Papers 2025, 077 (2025), accessed May 17, 2025, https://doi.org/10.5089/9798229005029.001

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

IMF-ENV is a global dynamic computable general equilibrium (CGE) model developed by the IMF's Research Department. The model features a database of 160 countries and regions, along with 76 sectors, and can be calibrated to a wide range of country-sector combinations. The model's general equilibrium structure, combined with its high level of detail, enables it to assess both direct and indirect domestic structural changes and cross-border spillover effects of policies. This makes it suitable for examining the medium- and long-term macroeconomic effects as well as structural shifts arising from national and/or global climate mitigation, energy, fiscal and trade policies. The model reports impact on macroeconomic variables, sectoral outcomes, employment and bilateral trade flows, along with detailed information for energy demand and supply, electricity generation and GHG emissions.

Subject: Commodities, Electricity, Environment, Greenhouse gas emissions, Non-renewable resources

Keywords: CES production function, Climate policies, Computable general equilibrium models, Electricity, Energy policies, Energy security, Energy transition, Equilibrium structure, Global, Greenhouse gas emissions, IMF working paper No. 2025/77, Non-renewable resources, Production function, Structural change, Trade policies, Trade policies in a General equilibrium framework

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