J. Munksgaard et al., THE USEFULNESS OF THE DANISH MACROECONOMI C MODEL ADAM IN ASSESSMENTSOF DIFFERENT ELECTRICITY SUPPLY-SYSTEMS, Nationalokonomisk tidsskrift, 135(1), 1997, pp. 73-86
We have used the macroeconomic model ADAM to investigate the consequen
ses for employment and the balance of payments of developing the Danis
h electricity supply system. In this article we present the results of
these investigations. Moreover, we discuss the usefulness of macroeco
nomic models in social assessments and argue that such models are bett
er than partial and static input-output analysis. In particular we foc
us on the long-term properties of ADAM and the crowding-out mechanism.