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Regional Input–Output Modeling System
The Regional Input–Output Modeling System (RIMS II) is a regional economic model developed and maintained by the US Bureau of Economic Analysis (BEA). Regional input–output multipliers such as the RIMS II multipliers allow estimates of how a one-time or sustained increase in economic activity in a particular region will impact other industries located in the region—i.e., estimating local shocks on gross output, value added, earnings, and employment. RIMS II multipliers differ from macro-economic multipliers, which are used to assess the effects of fiscal stimulus on gross national product. Differences in industry-specific regional multipliers are not meaningful, nor appropriate for use in a national context. RIMS II allows for estimates at the regional level because the multipliers are based on BEA data at the national and regional level. RIMS II multipliers have been used by both the public and private sectors. There are numerous examples of their use: * Federal Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Model
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include investigation, theorizing, and fitting theories to the world. Overview In general terms, economic models have two functions: first as a simplification of and abstraction from observed data, and second as a means of selection of data based on a paradigm of econometric study. ''Simplification'' is particularly important for economics given the enormous complexity of economic processes. This complexity can be attributed to the diversity of factors that determine economic activity; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Economic Analysis
The Bureau of Economic Analysis (BEA) of the United States Department of Commerce is a U.S. government agency that provides official economy of the United States, macroeconomic and industry statistics, most notably reports about the gross domestic product (GDP) of the United States and its various units—states, cities/towns/townships/villages/counties, and metropolitan areas. They also provide information about personal income, corporate profits, and government spending in their National Income and Product Accounts (NIPAs). The BEA is one of the principal agencies of the Federal Statistical System of the United States, U.S. Federal Statistical System. Its stated mission is to "promote a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic data in an objective and cost-effective manner". BEA has about 500 employees and an annual budget of approximately $101 million. National accounts BEA's national economic statistics (Nation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Input–output Model
In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies.Thijs Ten Raa, Input–Output Economics: Theory and Applications: Featuring Asian Economies', World Scientific, 2009 Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model. Origins Francois Quesnay had developed a cruder version of this technique called Tableau économique, and Léon Walras's work ''Elements of Pure Economics'' on general equilibrium theory also was a forerunner and made a generalization of Leontief's seminal concept. Alexander Bogdanov has been credited with originating the concept in a report delivered to the All Russia Conference on the Scientific Organisation of Labour and Production Processes, in January 1921. This approach was also developed by L. N. Kritsman and T. F. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Accounting Matrix
A social accounting matrix (SAM) represents flows of all economic transactions that take place within an economy (regional or national). It is at the core, a matrix representation of the national accounts for a given country, but can be extended to include non-national accounting flows, and created for whole regions or area. SAMs refer to a single year providing a static picture of the economy. Overview SAMs are square (having the same number of columns as rows) because all institutional agents (Firms, Households, Government and 'Rest of Economy' sector) are both buyers and sellers. Columns represent buyers (expenditures) and rows represent sellers (receipts). SAMs were created to identify all monetary flows from sources to recipients, within a disaggregated national account. The SAM is read from column to row, so each entry in the matrix comes from its column heading, going to the row heading. Finally columns and rows are added up, to ensure accounting consistency, and each colu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
