Applied Dynamic Analysis of the Global Economy (ADAGE) Model
"ADAGE is a dynamic computable general equilibrium (CGE) model capable of investigating economic policies at the international, national, U.S. regional, and U.S. state levels. CGE models such as ADAGE combine economic theory and empirical data to estimate policy effects, while accounting for all interactions among businesses and consumers.
ADAGE typically solves in 5-year time intervals from 2005 to around 2050 and can be used to explore dynamic effects of many types of energy, environmental, and trade policies. Of particular note is its ability to investigate climate change mitigation policies at a range of geographic scales.
ADAGE is designed with an integrated, modular structure (see figure). Each module relies on different data sources and has different geographic scopes, but all have the same overarching theoretical structure. The internally consistent, integrated framework connecting ADAGE’s modules allows its components to use relevant policy findings from other modules with broader geographic coverage, while avoiding computational issues that preclude solving for all U.S. states and world nations simultaneously."