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The REMI Economic-Demographic Forecasting and Simulation Model

Author

Listed:
  • George I. Treyz

    (Department of Economics, University of Massachusetts, Amherst, Massachusetts 01003 USA)

  • Dan S. Rickman

    (Regional Economic Models, Inc. (REMI), 306 Lincoln Avenue, Amherst, Massachusetts 01002 USA)

  • Gang Shao

    (Regional Economic Models, Inc. (REMI), 306 Lincoln Avenue, Amherst, Massachusetts 01002 USA)

Abstract

This article presents the Regional Economic Models, Inc. (REMI) Economic-Demographic Forecasting and Simulation (EDFS) model, which is used for regional forecasting and policy simulation in both the private and public sectors in the United States. The detailed structure of the model is presented. To illustrate the dynamic simulation properties of the model, results of two sample simulations for a REMI multi-area model of a region in Southern California are presented. Post-sample historical forecasts for all U.S. states are provided to evaluate the forecasting capabilities of the model.

Suggested Citation

  • George I. Treyz & Dan S. Rickman & Gang Shao, 1991. "The REMI Economic-Demographic Forecasting and Simulation Model," International Regional Science Review, , vol. 14(3), pages 221-253, December.
    • Handle: RePEc:sae:inrsre:v:14:y:1991:i:3:p:221-253
    DOI: 10.1177/016001769201400301
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    References listed on IDEAS

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    Cited by:

    1. Matias Busso & Patrick Kline, 2008. "Do Local Economic Development Programs Work? Evidence from the Federal Empowerment Zone Program," Cowles Foundation Discussion Papers 1639, Cowles Foundation for Research in Economics, Yale University.
    2. Anthony Yezer, 1995. "Intellectual Space for Regional Science," International Regional Science Review, , vol. 18(2), pages 153-157, April.
    3. Rephann, Terance & Vencatasawmy, Coomaren, 1999. "Determinants of the Spatial Mobility of Immigrants in Sweden," ERSA conference papers ersa99pa272, European Regional Science Association.
    4. Ashkan Masouman & Charles Harvie, 2020. "Forecasting, impact analysis and uncertainty propagation in regional integrated models: A case study of Australia," Environment and Planning B, , vol. 47(1), pages 65-83, January.
    5. Andrea Bonfiglio & Francesco Chelli, 2008. "Assessing the Behaviour of Non-Survey Methods for Constructing Regional Input-Output Tables through a Monte Carlo Simulation," Economic Systems Research, Taylor & Francis Journals, vol. 20(3), pages 243-258.
    6. Timothy J. Bartik & George Erickcek, 2014. "Simulating the Effects of the Tax Credit Program of the Michigan Economic Growth Authority on Job Creation and Fiscal Benefits," Economic Development Quarterly, , vol. 28(4), pages 314-327, November.
    7. Carol Taylor West & Thomas M. Fullerton Jr., 2004. "Assessing the Historical Accuracy of Regional Economic Forecasts," Urban/Regional 0404009, University Library of Munich, Germany.
    8. repec:dau:papers:123456789/5177 is not listed on IDEAS
    9. Lobo, Benjamin J. & Brown, Donald E. & Grazaitis, Peter J., 2019. "Long-term forecasting of fuel demand at theater entry points," International Journal of Forecasting, Elsevier, vol. 35(2), pages 502-520.
    10. Mark Partridge & Dan Rickman, 2010. "Computable General Equilibrium (CGE) Modelling for Regional Economic Development Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1311-1328.
    11. Partridge, Mark D. & Rickman, Dan S., 1998. "Regional differences in chronic long-term unemployment," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(2), pages 193-215.
    12. Maki, Wilbur R. & Lichty, Richard W. & Loveridge, Scott, 1994. "Reducing System Bias And Specification Error In Micro-Implan," Staff Papers 13317, University of Minnesota, Department of Applied Economics.
    13. Scott Lee Johnson & David M. Pekelney, 1996. "Economic Assessment of the Regional Clean Air Incentives Market: A New Emissions Trading Program for Los Angeles," Land Economics, University of Wisconsin Press, vol. 72(3), pages 277-297.
    14. Rickman, Dan S., 1995. "A bayesian analysis of the use of pooled coefficients in a structural regional economic model," International Journal of Forecasting, Elsevier, vol. 11(3), pages 477-490, September.
    15. Fahad Fahimullah & Yi Geng & Bradley Hardy & Daniel Muhammad & Jeffrey Wilkins, 2019. "Earnings, EITC, and Employment Responses to a $15 Minimum Wage: Will Low-Income Workers Be Better Off?," Economic Development Quarterly, , vol. 33(4), pages 331-350, November.
    16. Roberto Camagni & Roberta Capello, 2013. "Regional Competitiveness and Territorial Capital: A Conceptual Approach and Empirical Evidence from the European Union," Regional Studies, Taylor & Francis Journals, vol. 47(9), pages 1383-1402, October.
    17. Shields, Martin & Deller, Steven C. & Stallmann, Judith I., 2001. "Comparing The Impacts Of Retiree Versus Working-Age Families On A Small Rural Region: An Application Of The Wisconsin Economic Impact Modeling System," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 30(1), pages 1-12, April.
    18. Dan Wei and Adam Rose, 2014. "Macroeconomic Impacts of the California Global Warming Solutions Act on the Southern California Economy," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
    19. Maki, Wilbur R., 1997. "Accounting for Local Economic Change in Regional Input-Output Modeling," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 27(2), pages 1-15.
    20. Roberta Capello, 2007. "A forecasting territorial model of regional growth: the MASST model," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 41(4), pages 753-787, December.
    21. Roberta Capello & Ugo Fratesi, 2010. "Globalization and a dual Europe: future alternative growth trajectories," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 45(3), pages 633-665, December.
    22. Julie L Elser & Amber L Adams Progar & Karen M M Steensma & Tyler P Caskin & Susan R Kerr & Stephanie A Shwiff, 2019. "Economic and livestock health impacts of birds on dairies: Evidence from a survey of Washington dairy operators," PLOS ONE, Public Library of Science, vol. 14(9), pages 1-12, September.
    23. repec:grz:wpsses:2021-07 is not listed on IDEAS
    24. George Backus & Thomas Lowry & Drake Warren, 2013. "The near-term risk of climate uncertainty among the U.S. states," Climatic Change, Springer, vol. 116(3), pages 495-522, February.
    25. Steven C. Deller, 1995. "Economic Impact of Retirement Migration," Economic Development Quarterly, , vol. 9(1), pages 25-38, February.

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