Parameter calibration

The parameters in a G-Cubed model need to be calibrated. Some of the parameters are set directly using the values in the user_parameters.csv file in the model’s data folder. Other parameters are calibrated using information in the IO tables and in the database.

The treatment of select parameters in the model are explained in the resources listed below.

• Greenhouse gas emission intensity parameters

• Financial asset accumulation parameters

• Trade-weighted exchange rates weights

• Government transfers to households

• Substitution elasticities

Parameter calibration logic and customisation

The parameter calibration logic is provided in a Python class contained in the G-Cubed model’s python folder. By default the parameter calibration is done using a Python class called CalibratedParameters that is a subclass of the Parameters class and that is included in the calibrated_parameters module. You can adjust this CalibratedParameters class, with extreme care, to override standard parameter calibration logic or to add new parameters to the model.

The parameter calibration class is typically in a file called calibrated_parameters.py.

These module and class names can be overridden in the model configuration file.

Parameter values

Calibrated parameter values are accessible in CSV format in the diagnostics folder of the G-Cubed model.