ABSTRACT
In Chapter 6, we discuss the type of data used to develop the ERRE model, describe the database used as a mean for comparison with real-world data, and provide a statistical validation test as a metric of assessment of the goodness of fit of the model to available data. The disequilibrium inputs that allowed for the model calibration are shown. Finally, short-term scenarios used for the shock resilience analysis, and long-term fat-tail stress tests are applied to evaluate the possible uncertain futures. These latter relate to the world economy interacting with climate change (including hot house effect), resource depletion, and assessing the limits of a green energy revolution and carbon taxes by the end of the century.
