Réunion de travail AFD-CIRED

Réunion de travail AFD-CIRED


The objective of the two sessions is to explore the collaboration on a methodological paper discussing the interactions between multi-sectorial dynamics and finance/money, thus extending the Pollit and Mercure (2018) or Espagne (2018) papers. To do so it is proposed to dedicate the first half day to detailed presentation of existing models: the benchmark open economy model of AFD (Yilmaz and Godin 2020) and some of the current developments in Brazil, Colombia, Morocco and Tunisia; and a multi-sectorial coupled with bottom-up scenario model of CIRED, see Ghersi (2016), Soummane et al. (2019) or Su et al. (2020). Each presentation will highlight constraints, assumptions and issues related to the model, aiming to combine the two approaches, at least theoretically. The second session will be dedicated to the construction of a common approach, starting to discuss specific details and sketching the work plan of the collaboration.


Espagne, E. (2018). Money, finance and climate: The elusive quest for a truly integrated assessment model. Comparative Economic Studies, 60(1), 131-143.

Ghersi, F. (2016). Projet RISKERGY, Rapport final. CIRED, Paris, 84 p.

Godin, A., & Yilmaz, S. D. (2020). Modelling Small Open Developing Economies in a Financialized World: A Stock-Flow Consistent Prototype Growth Model.

Pollitt, H., & Mercure, J. F. (2018). The role of money and the financial sector in energy-economy models used for assessing climate and energy policy. Climate Policy, 18(2), 184-197.

Soummane, S., Ghersi, F., & Lefèvre, J. (2019). Macroeconomic pathways of the Saudi economy: The challenge of global mitigation action versus the opportunity of national energy reforms. Energy Policy, 130, 263-282.

Su, X., Ghersi, F., Teng, F., Le Treut, G., Meicong, L. (2020). The economic impact of a deep decarbonisation pathway for China: a hybrid model analysis through bottom-up and top-down linking. Energy Economics, forthcoming.

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