Abstract
Since the early 1960s, regional have developed a variety of regional economic models for policy analysis. Early efforts focused on the development of economic-base models that provided aggregate Keynesian-type multipliers. The development of regional input-output models followed, mainly in response to the aggregate nature of the multipliers implicit in economic-base models. The input-output model provided a consistent regional accounting framework in which a regional economic structure could be described in great detail. Policy analyses could be extended to disaggregated industry classifications. However, the time paths of economic impacts of policy changes were not captured in these models.
The authors are Regional Economists with the Bureau of Economic Analysis, U.S. Department of Commerce. The help of many colleagues at the Bureau of Economic Analysis and elsewhere is acknowledged. Views expressed are solely the authors’ and not necessarily those of the U.S. Department of Commerce.
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Kort, J.R., Cartwright, J.V., Beemiller, R.M. (1986). Linking Regional Economic Models for Policy Analysis. In: Perryman, M.R., Schmidt, J.R. (eds) Regional Econometric Modeling. International Series in Economic Modeling, vol 1. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-3267-8_4
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DOI: https://doi.org/10.1007/978-94-009-3267-8_4
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