what does REMIsay smwhat does REMIsay smREMI PITHE MODELPresented by Regional Economic Models Incwhat does REMIsay smWhat is PIPIis the leading offtheshelf solution for conducting dynamic macroecono ID: 871082
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1 what does REMI say? sm what does REMI
what does REMI say? sm what does REMI say? sm REMI PI + STRUCTURE OF THE MODEL Presented by Regional Economic Models, Inc. what does REMI say? sm What is PI+? PI+ is the lead
2 ing off - the - shelf solution for cond
ing off - the - shelf solution for conducting dynamic macroeconomic impact analysis of public policy. PI+ allows users to understand the deep linkages and relationship between
3 a policy and its economic foundation.
a policy and its economic foundation. PI+ is uniquely customizable to your region’s economy: 6,000+ policy variables Detailed industrial sector data Accommodates region’s econo
4 mic and demographic projections what doe
mic and demographic projections what does REMI say? sm About REMI Input - Output Close analysis of inter - industry relationships General Equilibrium Estimate of long - run stabi
5 lity of the economy allows for analysi
lity of the economy allows for analysis of policy decisions Econometrics Advanced statistical analyses underpinning the model Economic Geography Effects of geographic concentrati
6 on of labor and industry Integrated REM
on of labor and industry Integrated REMI economic modelling approach REMI’s 35 - year history of rigorous academic research and software development has led to the development
7 of the the industry standard in macroec
of the the industry standard in macroeconomic research methodology: what does REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggg
8 gggggggggggggggggg ggggggggggggggggggggg
gggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg g
9 ggggggggggggggggggggggggg gggggggggggggg
ggggggggggggggggggggggggg gggggggggggggggggggggggggg what does REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggggggggggggggggggg
10 gg gggggggggggggggggggggggggg gggggggggg
gg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg ggggggggggggggggg
11 ggggggggg gggggggggggggggggggggggggg wha
ggggggggg gggggggggggggggggggggggggg what does REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggggggggggggggggggggg ggggggggggggg
12 ggggggggggggg gggggggggggggggggggggggggg
ggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggg
13 gggggggggggggggggggg what does REMI say
gggggggggggggggggggg what does REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gg
14 gggggggggggggggggggggggg ggggggggggggggg
gggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggg
15 gggg what does REMI say? sm Policy and
gggg what does REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggg
16 gggggggg gggggggggggggggggggggggggg gggg
gggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg what does
17 REMI say? sm Policy and the Economy Pol
REMI say? sm Policy and the Economy Policy Change Economic Result gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg ggggggg
18 ggggggggggggggggggg gggggggggggggggggggg
ggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg gggggggggggggggggggggggggg what does REMI say? sm Tw
19 o motivating examples Hiring at Bost
o motivating examples Hiring at Boston University Higher chemical manufacturing costs what does REMI say? sm BU Expansion Hiring in several sectors what does REMI sa
20 y? sm BU Expansion what does REMI say?
y? sm BU Expansion what does REMI say? sm BU Expansion Optimal capital stock increases Investment Increases what does REMI say? sm BU Expansion Domestic demand (indu
21 stries) increases Output Increases w
stries) increases Output Increases what does REMI say? sm BU Expansion what does REMI say? sm BU Expansion Rising demand in labor market Compensation Rises what does
22 REMI say? sm BU Expansion A large
REMI say? sm BU Expansion A large influx of economic migrants what does REMI say? sm BU Expansion Higher local population drives consumption upwards what does REMI say?
23 sm Two motivating examples Hiring
sm Two motivating examples Hiring at Boston University Higher chemical manufacturing costs what does REMI say? sm Chemical Manufacturing Demo 5% increase in product
24 ion cost from regulation what does REMI
ion cost from regulation what does REMI say? sm Chemical Manufacturing Demo Increase in production costs what does REMI say? sm Model Linkages what does REMI say? sm Chemic
25 al Manufacturing Demo Output falls w
al Manufacturing Demo Output falls what does REMI say? sm Chemical Manufacturing Demo Driven by lower self - supply and falling exports what does REMI say? sm Model Link
26 ages Employment declines what does
ages Employment declines what does REMI say? sm Chemical Manufacturing Demo Job impacts by industry Big impact on chem manufacturing jobs, but also construction & re
27 tail Less income means less demand w
tail Less income means less demand what does REMI say? sm Chemical Manufacturing Demo Statewide job impacts as trade network is affected Employment affects compensati
28 on, then income, then consumption deman
on, then income, then consumption demand what does REMI say? sm Takeaways REMI’s structure shows how economic events can shape factors across the economy REMI can help