## Getting to Know GMMET: The Global Macroeconomic Model for the Energy Transition

_IMF Working Papers, December 22, 2023_

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## Bibliographic details
- Authors: Benjamin Carton, Christopher Evans, Dirk V Muir, Simon Voigts
- Published: December 22, 2023
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798400262326.001

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### Overview and Purpose
- Presents GMMET, the Global Macroeconomic Model for the Energy Transition.
- Purpose: analyze the short- and medium-term macroeconomic impact of curbing greenhouse gas (GHG) emissions.
- Model type: large-scale, dynamic, non-linear, microfounded multicountry model.
- Paper authors: Benjamin Carton, Christopher Evans, Dirk V Muir, Simon Voigts.
- Publication date: December 22, 2023.

### Model Structure and Scope
- Detailed description of GHG-emitting activities related to both fossil fuel and non-fossil-fuel processes and their interaction with the rest of the economy.
- Granular modelling features:
  - Electricity generation: captures the intermittency of renewables.
  - Transportation: captures network externalities between charging stations and electric vehicle adoption.
  - Fossil fuel mining: replicates estimated supply elasticities at various time horizons.
- Model properties documented include structure, data sources, and model properties.

### Policy Instruments and Scenarios
- Rich set of policy tools represented in the model:
  - Taxation of GHG emissions.
  - Various subsidies.
  - Regulations.
- Intended use: evaluate short- and medium-term macroeconomic impacts of climate mitigation policies and energy-transition interventions.

### Key Topics, Subjects, and Keywords
- Subject areas: Commodities, Electricity, Environment, Fuel prices, Greenhouse gas emissions, Inflation, Non-renewable resources, Prices.
- Keywords: Climate mitigation policy, Electricity, fossil gas price, Fuel prices, GHG price, GHG-emitting activity, Global, greenhouse gas, Greenhouse gas emissions, Inflation, Non-renewable resources, policy coordination, sectors in the United States.

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_Source: https://www.imf.org/en/publications/wp/issues/2023/12/22/getting-to-know-gmmet-the-global-macroeconomic-model-for-the-energy-transition-542845_