Geoscience Reference
In-Depth Information
govwor: Transfers to government from world (constant in foreign currency);
QGDADJ: Government consumption demand scaling factor. The value assumes
1 in this study;
qgdconst
c
: Government demand volume of commodity c;
10.4.4 Investment and Saving
Investment and saving block includes the following three equations:
X
h
k
¼
1
YH
k
TOTSAV
¼
ð
1
tyh
k
Þ
SADJ
kaphsh
k
ð
10
:
15
Þ
þ
þ
ð
Þ
KAPGOV
KAPWOR
ER
QINVD
c
¼
IADJ
qinvdconst
c
ð
10
16
Þ
:
X
c
k
¼
1
PQD
k
INVEST
¼
QINVD
k
ð
10
17
Þ
:
where
TOTSAV: Total savings;
KAPGOV: Government Savings;
KAPWOR: Current account balance;
IADJ: Investment scaling factor. The value assumes 1 in this study;
qinvdconst
c
: Investment demand volume.
10.4.5 Market Clearing Conditions
Market clearing conditions include equilibrium in factor markets, commodity
markets, government, foreign trade, and savings and investment. These conditions
can be represented in the following equations:
X
a
k
¼
1
FD
f, k
FS
f
¼
ð
10
:
18
Þ
QQ
c
¼
QINTD
c
þ
QCD
c
þ
QGD
c
þ
QINVD
c
ð
10
19
Þ
:
KAPGOV
¼
YG
EG
ð
10
20
Þ
:
