We are happy to announce the public release of the final version of NEMESIS-World!
NEMESIS-World constitutes the first-of-its-kind publicly available, global, multi-country, multi-sector, recursive dynamic macroeconomic model to analyse the interplay of climate and economic policies. It is a system of interconnected economic models covering 22 world regions, dedicated to studying issues related to economic development, competitiveness, employment, and, in particular, long-term structural policies such as climate policy.
Inspired by the EU version of the NEMESIS model, its primary purpose is to assess the socioeconomic impacts of various policies through scenario-based comparative analysis. The model’s core mechanisms rely on the behaviour of representative agents: firms, households, and governments. On the supply side, the model distinguishes 58 different economic activities that produce goods and services using production functions. These activities employ various production factors: capital, energy, low-, medium-, and high-skilled labour, and other intermediate inputs. All sectors are interlinked through inter-sectoral exchanges (conversion matrices) and international trade.
DIAMOND has also developed a detailed energy-environment module, enabling the model to address climate mitigation policies. This module improves the representation of each region’s energy system by detailing energy use across economic activities and households. In addition, it refines the modelling of the power generation sector by allocating electricity production across different technologies.
You can access the model’s code via the NEMESIS-World GitHub repository here, and the online documentation here.
