Question on monetary unit (US$2010 vs. 2017 vs. 2020)

orichters / common-definitions

Repository for definitions and mappings in model comparison projects

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Question on monetary unit (US$2010 vs. 2017 vs. 2020) #2

Closed orichters closed 2 months ago

orichters commented 8 months ago

NAVIGATE used 2010, but maybe it is time to move to something like US$2020?

Edit: The SSP update uses US$2017, so that would be my preference.

FlorianLeblancDr commented 7 months ago

@IAMconsortium/common-definitions-macro-economy @lolow @raymondmi (Please tag for every issue (so that the four of us can receive notifications).

This issue has been raised by Daniel for everyone here https://github.com/IAMconsortium/common-definitions/pull/54#issue-2132658784

I suggested to stick to $2010 (this will move over projects).

danielhuppmann commented 7 months ago

For your information, the iam-units package already supports currency-deflation for USD, see here.

In pyam, it's as easy as

df.convert_unit("USD_2010", "USD_2020")

The iam-units package can also be used directly as a pint.UnitRegistry (read the docs at https://pint.readthedocs.io).

lolow commented 7 months ago

I agree to stick to $2010, but in a more general way, the monetary unit should be defined at database level, $2010 being the default. Some thoughts:

A long placeholder could be "measure of monetary flow per unit of time".
Accepted values could be those defined in the iam-units package, following @danielhuppmann's comment.
This way, euro or national currency for specific database would be compatible if available in the package.

FlorianLeblancDr commented 7 months ago

This is good suggestions Laurent. May be you can open an issue on this for everyone?

I am sure Shinichiro will appreciate as the template is also supposed to be used for national databases, included the current call for national scenarios he is working on.