100 The I O table is then updated and a form substation model is constructed by analysing a five tier calibration and rearranging the
100 The I-O table is then updated and a form substation model is constructed by analysing a five-tier calibration and rearranging the 𝑋𝑖𝑗𝑇∗ table to find XijT*, as: 𝑿 = 𝟏(𝑷𝒏−𝟏−𝟏) 𝒙 𝑵𝒏 𝒙 ( 𝑨𝒏−𝟏 𝑷𝒏−𝟏 ) 𝒙 𝑹𝒏−𝟏 𝑨𝒏 where P: paired elasticity N: the five tiers of the CES model A: The sum of all products R: the result of the (n - 1) tier (n: 1, 2, 3, 4, 5, …) The XijT* table is then normalised to achieve balance in the I-O table Finally, the differences in GDP between the impact and non-impact on sectoral prices are then compared to identify the changes in price when a new technological policy is introduced Typical nesting structure models ENERGY K-El/D-L-F-N E-N-K-L E-N E F El K-El K-L N K L K D Figure 4-6: Nesting Structure of SC2 - Energy Scenario Source: Developed from this research D-L-F-N El D L F L: Labour F: Fossil K: Capital ElL: Electricity - Fossil E: Energy ElH: Electricity - Hydropower N: Non-energy ElR: Electricity – Renewables D: Distribution ElS: Electricity – Solar power N