PNNL

Abstract

This Core Model Proposal (CMP) updates the Shared Socioeconomic Pathway (SSP) database to a recent version (v3.0.1; released in 2024) within GCAM. Currently, GCAM relies on socioeconomic drivers, including population, GDP, and labor force projections, from the original SSP database version released in 2013. These projections, provided by independent socioeconomic dynamic models (e.g., multi-dimensional demographic models and macroeconomic models of convergence growth), may need regular updates when (1) near-term observations become available and (2) there are updates and advancements in the socioeconomic modeling. Timely updates of socioeconomic drivers in global economic equilibrium and multisector dynamic modeling will ensure (1) alignment of historical years and near-term projections with observations, enhancing base year calibrations, including calibration parameters and labor productivity, and (2) improvement of long-term projections with updated socioeconomic drivers, which set the scale of the economy. This CMP updates the SSP data (from v2013 to v2024) and also fixes/reconciles historical GDP data sources in GCAM. We investigate the impact of these updates on GCAM projections.