FIDELIO 3 manual: Equations and data sources

Paola Rocchi (), Simone Salotti, Frédéric Reynès (), Jinxue Hu (), Tatyana Bulavskaya (), José Rueda-Cantuche, Juan Manuel Valderas Jaramillo, Agustin Velazquez Afonso (), Antonio Amores and Teodora Corsatea ()
Additional contact information
Paola Rocchi: European Commission - JRC, https://joint-research-centre.ec.europa.eu/index_en
Jinxue Hu: TNO – Innovation for life
Tatyana Bulavskaya: TNO – Innovation for life
Agustin Velazquez Afonso: European Commission - JRC, https://joint-research-centre.ec.europa.eu/index_en
Teodora Corsatea: European Commission - JRC, https://joint-research-centre.ec.europa.eu/index_en

No JRC115308, JRC Research Reports from Joint Research Centre

Abstract: FIDELIO (Fully Interregional Dynamic Econometric Long-term Input-Output) is a multi-sectoral model developed by the unit B.5 of the Directorate General Joint Research Centre (JRC) — the circular economy and industrial leadership unit. Compared to neoclassical CGE models — which assume that the perfect flexibility of prices and quantities ensures the full use of the factors of production at all times — FIDELIO integrates some new-Keynesian features: consumption adjusts slowly to its optimal level according to an error correction model and wages do not clear the labour market. The assumptions that prices do not clear the markets and market "imperfections" exist generate the dynamics of the model that is solved sequentially (recursive dynamic). In addition, FIDELIO is an econometric model since the calibration of most of the behavioural parameters of the model (dynamic adjustment lags of prices and quantities, and elasticities) is based on econometric estimations.This technical report illustrates the third version of the FIDELIO model, FIDELIO 3. The changes introduced in the subsequent versions of the model have two main objectives. The first one is to increase the coverage of the model. The second one is to improve the efficiency and the capacity of the model to evaluate sustainable production and consumption policies. The aim of this report is twofold. First, it contains all the equations of the current version of the model; second, it illustrates the characteristics of the data used by FIDELIO 3.

Keywords: Dynamic econometric model; Input-output; FIDELIO 3 (search for similar items in EconPapers)
JEL-codes: C61 C63 C67 C68 D57 D58 E12 E17 F10 (search for similar items in EconPapers)
Pages: 62 pages
Date: 2019-03
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://publications.jrc.ec.europa.eu/repository/handle/JRC115308 (application/pdf)

Related works:
Working Paper: FIDELIO 3 manual: Equations and data sources (2019)
Working Paper: FIDELIO 3 manual: Equations and data sources (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ipt:iptwpa:jrc115308

Access Statistics for this paper

More papers in JRC Research Reports from Joint Research Centre Contact information at EDIRC.
Bibliographic data for series maintained by Publication Officer ().