DREAM, Danish Research Institute for Economic Analysis and Modelling

Name

DREAM, Danish Research Institute for Economic Analysis and Modelling

Legal name

Danish Research Institute for Economic Analysis and Modelling

Website

https://dreamgruppen.dk

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Economic Modeling and Forecasting

NAICS

Research and Development in the Social Sciences and Humanities (54172), Computer Systems Design and Related Services (5415)

SIC

Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)

akta.pro primary industry

Transition Risk Modeling & Policy/Market Pathways (Carbon Price, Regulation, Technology Adoption) (EUABALAD)

Keywords

• Macroeconomic modeling
• Demographic projections
• Policy analysis
• Economic forecasting
• Applied general equilibrium

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations

Revenue model

1. Government financing: DREAM is primarily financed by financing contributions from the Ministry of Finance (Finansministeriet). The institution also has a smaller independent fiscal appropriation. This is the main revenue stream.
2. Subscription and analysis revenue: Subscription revenues and revenues from analysis assignments contribute to financing DREAM's activities.
3. Data and forecast sales: DREAM sells data from baseline projections including population, education, labor market projections, and SMILE microsimulation model data. Education projection priced at 56,250 kr. (45,000 kr. ex VAT), labor market projection at 56,250 kr. (45,000 kr. ex VAT), and SMILE data at 281,250 kr. (225,000 kr. ex VAT).
4. GAMS server access fees: External institutions pay for access to DREAM's GAMS server to run models including GrønREFORM, MAKRO, and REFORM. First year costs approximately 18,000 kr. per institution with one user, dropping to 13,000 kr. in subsequent years.
5. Training and course fees: DREAM offers paid courses on using GrønREFORM and MAKRO models. Introduction to GrønREFORM: 16,000 kr. excl. VAT. Up to date with GrønREFORM: 2,000 kr. excl. VAT. MAKRO introduction course: 16,000 kr. excl. VAT.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

DREAM develops, maintains, and applies a suite of proprietary macroeconomic and microsimulation models — DREAM, MAKRO, SMILE, REFORM, and GrønREFORM — together with demographic projections of population, education, and labor market, for analysis of the Danish economy. Customers subscribe to model-generated data, purchase server access to run the models themselves, attend paid training courses, and commission custom economic analyses and policy evaluations.

Product overview

DREAM is an independent Danish research institution that develops and maintains a suite of economic and demographic analysis tools. The core product portfolio consists of five economic/demographic models: DREAM (dynamic general equilibrium), MAKRO (macroeconomic projections), SMILE (microsimulation), REFORM (multi-sector static), and GrønREFORM (climate-environmental). These are complemented by demographic projection modules for population, education, and labor market. DREAM operates as a platform of interconnected models supported by services including GAMS server access and training courses. The models are used by government ministries, statistical agencies, commissions, interest organizations, and think tanks for policy evaluation and economic analysis.

Differentiator

Problem solved

Functional benefit

Brands

• MAKRO: Macroeconomic model developed for analysis of the Danish economy, used by the Ministry of Finance for macroeconomic projections
• SMILE
• REFORM
• GrønREFORM
• Befolkning

Products and services

• DREAM model Dynamic applied general equilibrium (AGL) model for analyzing long-term challenges of the Danish welfare state, focusing on population aging and fiscal sustainability. Models the full Danish economy including general equilibrium relationships.
• MAKRO model Dynamic macroeconomic model developed for Finansministeriet's short- and medium-term economic projections. Calculates fiscal effects and is used for the government's official economic forecasts by the Ministry of Finance and Ministry of Economy.
• SMILE microsimulation model Microsimulation model projecting housing demand based on household structure, demographic characteristics, income, pension status, and municipality. Also used for municipal projections and income/wealth distribution analyses.
• REFORM multi-sector model Multi-sector static model for detailed industry analyses of the Danish economy including structural analyses of competition, productivity, and tax conditions. Contains many sectors for comprehensive economic modeling.
• GrønREFORM climate-economic model Environmental and climate-economic model for the Danish economy assessing the economic impact on climate and environment, evaluating whether climate and environmental policy targets are achieved, and quantifying socioeconomic costs of environmental and climate policy measures. Includes sub-models for energy supply, transport, agriculture, waste, and emissions reduction.
• Population projection (Befolkning) National population projection model projecting Danish population development towards 2100. Denmark's official population projection published by Statistics Denmark, produced by DREAM.
• Education projection (Uddannelse) Projection of study behavior and education levels. Projects current and highest completed education by age, gender, and origin. Integrated with DREAM's other models. Available as a data subscription (56,250 kr. / 45,000 kr. excl. VAT annually).
• Labor market projection (Arbejdsmarked) Projection of labor market attachment as employed, unemployed, pensioner, etc., broken down by age, gender, origin, education, and labor market status. Available as a data subscription (56,250 kr. / 45,000 kr. excl. VAT annually).
• GAMS server access Server access for external institutions to run DREAM's GAMS-based models including GrønREFORM, MAKRO, and REFORM. Software (GAMS, CONOPT solver) installed on server; three simultaneous runs possible. First year cost approximately 18,000 kr. per institution with one user, dropping to 13,000 kr. per user in subsequent years.
• Courses in MAKRO Training course teaching how to evaluate socioeconomic effects of policy measures using MAKRO. Multi-day course covering GAMS programming, MAKRO model structure and modules, and how to perform and interpret policy shock analyses. Priced at 16,000 kr. excl. VAT.
• Courses in GrønREFORM Training courses for using GrønREFORM, including a four-day Introduction to GrønREFORM (16,000 kr. excl. VAT) covering GAMS programming, model structure and scenario analysis, and a one-day Up to date with GrønREFORM update course (2,000 kr. excl. VAT) covering latest model updates, CCS technology, and shadow price calculations.

Quantifiable outcome

• DREAM model used for Denmark's official long-term fiscal sustainability analysis since 2004
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core.

• EPRN - Economic Policy Research NetworkcoreStrategic or Co-development Partner · 1 September 2001EPRN is a network collaboration on research in economic policy established September 1, 2001. Research units include DREAM, CBS Economic Policy Group (CEPG), and Center for Economic Behavior and Inequality (CEBI) at Copenhagen University. External partners are Beskæftigelsesministeriet, Finansministeriet, Skatteministeriet, Erhvervsministeriet, and Danmarks Nationalbank, who finance the network's activities.
• Københavns Universitet (Copenhagen University)coreStrategic or Co-development PartnerCopenhagen University collaborates with DREAM on the GrønREFORM model development (2017-present) and is represented on DREAM's board and GrønREFORM's professional board. Also a member of EPRN through CEBI research unit.
• Aarhus Universitet (Aarhus University)coreStrategic or Co-development PartnerAarhus University collaborated with DREAM on the GrønREFORM model development (2017-2022) and is represented on DREAM's board and GrønREFORM's professional board.
• Danmarks Statistik (Statistics Denmark)coreTechnology or IntegrationStatistics Denmark collaborates with DREAM to produce Denmark's official population projection since 2010. Statistics Denmark also provides the comprehensive data foundation for all DREAM models including national accounts, green national accounts, emission accounts, and detailed sector data. A dedicated dataset for GrønREFORM was developed by Statistics Denmark.
• GrønREFORM Stakeholder ForumcoreStrategic or Co-development PartnerThe GrønREFORM model development follows a stakeholder forum consisting of experts and government agencies expected to use the model: Copenhagen University, Aarhus University, Klimarådet, Finansministeriet, Skatteministeriet, Erhvervsministeriet, Klima-, Energi- og Forsyningsministeriet, Miljøministeriet, Ministeriet for Fødevarer, Landbrug og Fiskeri, Transportministeriet, Nationalbanken, and Energistyrelsen.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• OECD Economics Department: International organization providing macroeconomic analysis and country economic surveys. Has broader scope than DREAM but performs comparable macroeconomic modeling and policy assessment work for member countries including Denmark.
• IMF Research Department: International macroeconomic research and forecasting body serving member countries. Performs comparable macroeconomic modeling and policy analysis work at a global scale, providing context for DREAM's national-level modeling.

Direct peers

• CBS Economic Policy Group (CEPG): Economic policy research group at Copenhagen Business School and EPRN network partner with DREAM. Comparable as a Danish academic-economic research group producing policy-relevant economic analysis.
• CEBI (Center for Economic Behavior and Inequality): Research unit at Copenhagen University part of the EPRN network with DREAM. Comparable as an applied economic research and policy analysis unit producing economic modeling outputs in Denmark.
• De Økonomiske Råd (Danish Economic Council): Danish government economic advisory body that uses DREAM's models for long-term fiscal sustainability assessments. Operates in the same Danish policy-analysis ecosystem and serves overlapping government customers.
• Copenhagen Economics: Danish economic consultancy providing quantitative economic analysis and policy evaluation. Direct peer in Danish economic modeling and policy advisory; competes for similar government analysis mandates.
• Statistics Denmark (Danmarks Statistik): Partner and co-producer of Denmark's official population projection with DREAM. Government statistical agency producing demographic and economic data that powers DREAM's models. Strongly comparable as an official Danish government data and analysis institution.

Regional players

• Kraks Fond - Institute for Urban Economic Research: Danish urban economic research institute producing applied economic analysis for Danish policy. Comparable as a Danish applied economic research institution with similar government and policy customers.
• Statistics Norway (SSB): Norwegian government statistical and economic research agency producing official demographic and economic projections. Comparable role to DREAM/Statistics Denmark in delivering official population and economic analysis for Norway.
• National Institute of Economic Research (Sweden, Konjunkturinstitutet): Swedish government macroeconomic forecasting institute producing official Swedish economic forecasts and policy analysis. Functionally analogous to DREAM within Sweden's policy ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dream-research-institute

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DREAM, Danish Research Institute for Economic Analysis and Modelling