Monetary factors

Different MRIOTs are often expressed in different units ($,€) and in different monetary factors, e.g., units, thousand of units or millions of units.

BoARIO handles this through the explicit definition of such a monetary factor for both the model (corresponding to the MRIOT data) and the events. If the (explicit) monetary factor of an event differs from the model’s one, impact values are automatically converted to the correct one by multiplying them by the ratio event monetary factor / model monetary factor.

Setting up monetary factor for the model

Via the MRIOT

When instantiating a model object from an MRIOT table (IOSystem), we check for the existence of a monetary_factor attribute within the IOSystem and use its value if it exists.

This takes advantage of the possibility in python to define attributes on the fly, thus allowing to define this custom attribute for an IOSystem.

Via parameter

The more traditional way to setup the monetary_factor is simply via the monetary_factor argument at initialisation.

As most MRIOTs are expressed in millions, the default value is 10**6. We still recommend to state it explicitly for transparency.

Setting up monetary factor for an event

Setting up the monetary factor for an event is done at initialisation via the event_monetary_factor argument.

Attention

The default value of this argument is 1.0, thus it differs from the model’s one and adjustments are made!

Converting different currencies

Although it has not be specifically explored or tested, the combination of the two factor could in principle be used to convert from one currency to another by using floating values instead of powers of ten.