Model conventions:

  • For in-code variable definitions “$” refers to local nominal dollars, while non-local or real denomination should be explicitly specified, as in “Real US$”. 
  • Default denomination for ENERGY 2020 model variables is nominal local dollars.  
  • However, definitions have not been updated in some time and checking is a worthwhile process.  Please note if you suspect the denomination of a variable differs from that in the variable definition. 


Variables come in denominated in US, Canadian, or Mexican currencies, real and nominal.  We then proceed to use exchange rates and inflation rates to convert them all to real, local currency. Local currency means Canadian Dollars for areas in Canada and US Dollars for areas in the US.  At the moment, all values for Mexico are denominated in US Dollars. 

The key to knowing how to convert a variable is to know the type of dollars for the input data and the dollars required for the ENERGY 2020 variable.  The ENERGY 2020 input variables are generally in 1985 local dollars except for the trade and emission market variables which are in 1985 US dollars.  The dollars for the input variables should be documented in the input data file.

Rules for Dollar Units Listed in Variable Definitions

In variable definitions, units are specified in parentheses where ($) is the default local nominal currency and (Real $) is assumed to be base 1985 local currency. Real currency in non-1985 base years are specified by their year. Any base years that aren’t 1985 and any denomination that is not local should be explicitly specified as in (2018 US$) or (2015 CN$).