THE USEFULNESS OF THE DANISH MACROECONOMI C MODEL ADAM IN ASSESSMENTSOF DIFFERENT ELECTRICITY SUPPLY-SYSTEMS

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.