ABSTRACT
The IEA medium-term energy model has been developed over the past five years as an additional analytical tool for examining trends in energy markets and for carrying out sensitivity analysis.1 It has several key features:
● It is an energy model, and it treats the macroeconomy exogenously. ● Its frequency is annual, currently running to 2005. ● Most of its parameters are econometrically estimated, usually over the 1965-89 period. ● Adjustment factors complement econometric forecasts in obtaining reference case projections. ● Its treatment of energy markets is especially detailed for the OECD regions, primarily because of the
availability of high quality data.
