The IMACLIM-R model is a hybrid dynamic general equilibrium model of the world economy that covers the period 2001–2100 in yearly steps through the recursive iteration of annual static equilibria and dynamic modules. The annual static equilibrium determines the relative prices, wages, labour, value, physical flows, capacity utilization, profit rates, and savings at a year t as a result of short-term equilibrium conditions between demand and supply of goods, capital, and labour markets. The dynamic modules are sector-specific reduced forms of technology-rich models, which take the static equilibria at a year t as an input, assess the reaction of technical systems to the economic signals, and send new input–output coefficients back to the static model to allow computation of the equilibrium for year t + 1. IMACLIM-R is part of the IMACLIM suite of models, further information on which is available on the IMACLIM homepage.
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