How do continuous rainfall-runoff models work?

Continuous models simulate entire water balance over extended periods, tracking soil moisture states between events. Components: (1) Interception - canopy storage, (2) Infiltration - Green-Ampt, Philip, or conceptual (deficit-constant), (3) Soil moisture accounting - multiple layers, ET extraction, (4) Groundwater - linear reservoirs, (5) Routing - unit hydrograph or kinematic wave. Models: Sacramento (NWS), HBV (Scandinavia), GR4J (France). Calibration requires multi-year records including droughts and floods. Used for: water resource yield, low flow assessment, climate impact studies. More demanding than event-based but more realistic.