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FrederickTreyzPhD


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Document on Subject : "FrederickTreyzPhD"— Transcript:

1 whatdoes say? FrederickTreyz,Ph.D Region
whatdoes say? FrederickTreyz,Ph.D RegionalEconomicModels,Inc. AtREMI,weareinspiredbyasinglegoal;toinformandimprovethequalityofpublicpolicydecisions.Thatswhywearededicatedtounderstandinghowgovernmentactionsandotherchangesaffecttheworldaroundus.Ourbeliefisthatimprovedknowledgeandinformationwillleadtobetterdecisions.Weworktodevelopandsupporttheuseofeconomicmodelsthatinformgovernmentandcorporatedecisions.REMIwasfoundedin1980onthetransformativeideathatgovernmentdecisionmakersshouldtesttheeconomiceffectsoftheirpoliciesbeforetheyareimplemented.Ourcommitmenttoabetterunderstandingoftheeconomydrivesourunceasingprocessofinnovationineconomictheoryandpractice,softwaredevelopmentandapplication,andtheuseofquantitativeeconomicanalysistoguidepolicydecisions.Weareproudofthepioneeringworkofourclientshavedoneandtheirongoingcontributionstoinformingandguidingthepolicy-makingprocess.Inenvironmentalagencies,economistsus

2 eREMImodelstodeveloppoliciesthatmaintain
eREMImodelstodeveloppoliciesthatmaintaineconomicgrowthwhileimprovingairquality.WithREMIsTranSight,analystshavedemonstratedtheeconomicviabilityofnumeroushighway,port,andrailprojects.Whenstatesreformtheirtaxsystems,theyturntoREMItounderstandhowbusinessactivitycanbeencouragedwhilecontinuingtofundpublicservices.Economicdevelop-mentorganizationsuseREMImodelstoguidejobcreationandprioritizetheallocationoftaxincentives.Ourdedicationasanorganizationmaintainsourpositionastheprovideroftheworldsleadingregionalpolicyanalysismodels.Weinviteyoutofindoutmoreaboutourproductsandservices.Pleasejoinusinacommongoalofimprovingpolicydecisions.FrederickTreyz,Ph.D.PresidentandCEO 1977…1984OriginsandGettingStarted Inthe1970s,Dr.GeorgeTreyz,thefounderofRegionalEconomicModels,Inc.(REMI),workswiththeNobelPrize-winnerLaurenceKlein,andotherpioneersinthefieldofeconometricmodeling.Treyz,alongwithAnnFried-landerandBenjaminSteve

3 ns,developstheMassachusettsEconomicPolic
ns,developstheMassachusettsEconomicPolicyAnalysis(MEPA)model,oneofthefirstregionalmacroeconomicmodels.TheTreyz,Friedlander,StevensmethodologyisexpandedandgeneralizedunderaNationalCooperativeHighwayResearchProgramgrant,becomingthebasisforREMIsfuturemodels.REMIisfoundedin1980forthepurposeofdevelopingregionalforecast-ingandpolicyanalysismodelstoinformandimprovethequalityofpublicpolicydecisions.ThePortAuthorityofNewYorkandNewJersey,theUniver-sityofColorado,andtheStateofMinnesotaareamongthefirstclients. 1985…1993WorkingOuttheDetails AseriesofmajoreconomicresearchprojectsexpandthecoreREMImodelintoamorecomprehensiverepresentationoftheregionaleconomy.REMIpublishesseminalpapersonitsmodelintheAmericanEconomicReview,ReviewofEconomicsandStatistics,andtheJournalofRegionalScience.RegionalEconomicsModels,Inc.experiencesamajorexpansionofitsclientbaseandtheREMImodelbecomesthedefactostandardforeconomicpolicyanaly

4 sismodeling. History 1994…1999PolicyInsi
sismodeling. History 1994…1999PolicyInsightandNewDevelopments FrederickTreyzjoinsREMIafterstudyingunderinternationalleadersinregionaleconomicsandmodelingatPrincetonUniversityandtheUniver-sityofPennsylvania.In1994,REMIdevelopsthefirstmulti-regionalUnitedStatesmodelconsistingofthefiftystatesandDistrictofColumbia.Newdatasuppressionprocedures,consumptionequations,andparticipationrateequationsareimplementedduringthistime.In1997,REMIreleasesPolicyInsight,advancingregionalmodelingwithanintuitivegraphicaluserinterface. GeographicalExpansion WeiFan,FrederickTreyzandGeorgeTreyzpublishAnEvolutionaryNewEconomicGeographyModelŽintheJournalofRegionalScience.ThistheoryisimplementedintheREMImodel,thefirstuseofNewEconomicGeographytheoryinaregionalpolicyanalysismodel.REMIbeginstodevelopmodelsinternationally.EarlymodelsarebuiltforBritishColumbia,Tuscany,andtheNetherlands.REMIintroducesTranSight,thefirstwidelyavailab

5 lemodelthatintegratestraveldemandmodelsw
lemodelthatintegratestraveldemandmodelswitharegionalmacroeconomicmodel. TopicAreasEconomicDevelopment Whenregions,states,andcitieswanttofostereconomicdevelopment,theyturntoREMIforanswers.Ourproductshelptoanswersuchquestionsas:Whichprojectswarranttaxincentives?Howcankeyclustersbeencouraged?Whatcanweexpectbyattractinganewfirm?REMIsBizDevapplicationallowsuserstodevelopsophisticatedeconomicdevelopmentscenariosthatreflectthespecificnatureofanindustryorprojects,whilefacilitatingadjustmentstoemployeecompen-sation,firmproductivity,andthecompositionofthesupplychain.EvaluationoftheeffectsofE.U.StructuralFundinvestmentsinSpainandSouthernItalyEffectoffederalR&DspendingonthestateofMassachusettsEvaluationoftheeffectsofanewautoplantconductedseparatelyforMichigan,Kentucky,Wisconsin,andAnalysisoftheFortDrummilitaryfacilityexpansioninnorthernNewYorkstateAnalysisofnewportdevelopmentinMaineImpactofanewshoppingandent

6 ertainmentcomplexinEffectofanewpapermill
ertainmentcomplexinEffectofanewpapermillinEffectoftheKansasCityRoyalsandKansasCityChiefsonthemetropolitanareaandthestateofImpactofapotentialpaperindustrycontractioninNewHampshireEconomicimpactoftheOklahomaAgricultureEnhancement&DiversificationProgram Environment Environmentalpoliciesaredesignedforpurposessuchasreducingemissions,controllingwaterpollution,andlimitinggreenhousegasses.Althoughtheprimarypurposeoftheseregulationsisgenerallynon-economic,theyoftenhaveasignificantinfluenceoneconomicactivity.Keepingthatinmind,governmentagenciesandprivatebusinessesuseREMImodelstounderstandtheeconomicimpactofenvironmentalpolicies,andtodesignrulesthatimprovetheenvironmentwhilemaintain-ingahealthyeconomy. Energypowersoureconomy.Electricitykeepsourmachineshumming;gasandoildriveourvehiclesandflyourairplanes;andmanysourcesofBTUsheatandcoolourhomes,schools,offices,andfactories.Energy-generatingindustriesareanimpor

7 tantinputtootherindustriesaswellasasecto
tantinputtootherindustriesaswellasasectorintheirownright.Energyanalysesthereforeoftenfocusonthetotaleconomicimpactofchangingelectricrates,introducingnewpowersources,andinvestingintheproductionofenergy.ImpactofenvironmentalairqualityregulationsinIllinoisandsouthernCaliforniaEconomiceffectsofadoptingalowemissionvehicleprograminMarylandEffectofnewoffshoredrillingonthreecountiesinCaliforniaMinnesotasvalue-addedrecyclingmanufacturingindustries:aneconomicandenvironmentalprofileImpactofenforcementofchemicalpollutioncontrollawsonsubstateareasinIllinoisEconomicsofEvergladesExploringemissioncontrolstrategiesinFloridaselectricutilityindustryEconomicimpactanalysisoftourismandairpollutioninFloridaImpactsofelectricutilityderegulationexaminedforWyoming,Connecticut,andNewYorkEffectofwaterratechangesforDenverandotherareasinColoradoEvaluationofproposedenergypricechangesfromconservationandconstructionprogramsforst

8 ateenergyoffices,regulators,andutilities
ateenergyoffices,regulators,andutilitiesbylinkagetotheEnergy2020modelAnalysisofclearcuttingreferenduminMaine Transportation LocationisascriticalineconomicsasinRealEstate.Vastdifferencesineconomicactivitycanoccurfromoneplacetoanother,whetheritsfivethousandmilesawayorthenextblockover.Transportationconnectslocations,allowingmovementofpeopleandshipmentsoffreight.Sincetransportationandcommutercostsaredistincttypesofcost,theyrequireamethodologyspecificallydesignedforthisREMIsmodelshavebeenusedforover25yearstoevaluatetheeconomicimplicationsoftransportationprojects.TransportationanalystsuseTranSighttoevaluatestatetransportationplans,newandexpandedhighwaycorridors,tollroads,airports,seaports,rail,freightandmulti-modaldevelopments. Taxation,Forecasting,andPlanning AnalystsuseREMIsmodelstoevaluatetheeffectofanypolicychangeoreventtotheeconomy,includingImmigration,HomelandSecurity,BaseRealignment,andCasinoD

9 evelopment,amongothers.Taxanalystsvaluet
evelopment,amongothers.TaxanalystsvaluethedynamicbehavioralresponsesbuiltintotheREMImodel.Incorporatingvariablesrepresentingtheentirerangeofpotentialtaxes,REMImodelsdemonstratehowfirms,individuals,andtheeconomyatlargerespondtochangesintaxes.Forecastersandplannersusetheeconomicforecaststopredicteconomicanddemographicchangesfarintothefuture.Usersdevelopalternativeforecastswithinthemodels,providingdifferentpotentialprojectionsfortheregionaleconomy.EvaluationoftheeconomiceffectsofvariousalternativesforimprovingamajorroadinWisconsinandhighwayalternativesinsouthwestAnalysisoftheeconomiceffectsofBostonsCentralArtery/TunnelprojectEconomicimpactsofalternativefuturesfortheLosAngelesInternationalAirportEconomicimpactofaPacificNorthwestportshutdownEconomicimplicationsofcongestionEffectoftaxchangesinseparatestudiesforColorado,Wisconsin,andNewYorkEffectofchangesinMinnesotawelfarepolicyImpactsarisingfromretirem

10 entageandsocialsecurityissuesLong-termpo
entageandsocialsecurityissuesLong-termpopulationforecastsforwaterresourceplanninginsouthernNevadaIdentificationandanalysisoftrendsinMichigansexportbase TheREMImodelisadynamicforecastingandpolicyanalysistoolthatcanbevariouslyreferredtoasaneconometricmodel,aninput-outputmodel,orevenacomputablegeneralequilibriummodel.Infact,REMIintegratesseveralmodelingapproaches,incorporatingthestrengthsofeachmethodologywhileovercomingitslimitations.Theresultisacomprehen-sivemodelthatanswerswhatifƒ?Žquestionsaboutyoureconomy.REMImodelscontaindetailedindustries.Atitscore,theREMImodelincorporatesthecompleteinter-industryrelationshipsfoundininput-outputREMImodelsaredynamic;theydemonstrateeconomicchangesovertime,allowingfirmsandindividualstochangetheirbehaviorinresponsetochangingeconomicconditions.Theseresponsesarebasedinpartongeneralequilibriumeconomictheory.REMImodelsaresometimesreferredtoaseconometricmodels,Ždueto

11 theunderlyingequationsandresponseestimat
theunderlyingequationsandresponseestimationsusingadvancedstatis-ticaltechniques.Thespatialdimensionoftheeconomyisrepresentedbytheunder-lyingNewEconomicGeographyŽstructureoftheREMImodel.Thisincorporatestheproductivityandcompetitivenessbenefitsduetotheconcentration,oragglomeration,ofeconomicactivityincitiesandmetro-politanareas,andtotheclusteringofindustries. OverviewoftheREMIModelMethodologyDetailedindustrysectorsDynamicResponsesIndustryClustersandAgglomerationEconomies HowtheREMIModelisUsedtoAnsweraPolicyQuestion Amodelrunaccomplishestwothings:itforecaststhefutureofaregionaleconomy,anditpredictstheeffectsonthatsameeconomywhentheuserimplementsachange.Thefirstforecastiscalledacontrolforecast.Thesecond,whichincorporatesthepolicychanges,iscalledthealternativeforecastorthesimulation.Thedifferencebetweenthetworepresentstheeffectofthepolicyasillustratedbelow. CompareForecasts Changeinpolicyvariablesasso

12 ciatedwithPolicyX ControlForecast Altern
ciatedwithPolicyX ControlForecast AlternativeForecast WhateffectwouldPolicyXhave? TheREMIModel  HowPolicyVariablesEntertheREMIModel Afterformulatingapolicyquestion„forexample,Whatwouldbetheeffectsofdecreasingelectricratesforbusinessesby50percent?Ž„theuserentersthepolicychangebyadjustinganyoneofthethousandsofpolicyvariablesinthemodel.Eachpolicyvariablecategorymaybeimplementedatvariouslevelsofdetail.Policyvariablescanbechangedtorepresentalmostanydirectchangethatmayoccurduetoanexternaleventorpolicychange.Ineconomicstudies,theusermighttypicallychangeanumberofvariables.Policyvariablesrangefromchangesinimmigrationtochangesinhousingprices. FinaldemandBYTYPEandoutputBYINDUSTRY POPULATION andlaborBYAGE/GENDER/ BYINDUSTRYANDBYOCCUPATION LocalandexportmarketsharesBYINDUSTRY rates,prices,andcostsBYINDUSTRYmigrationandBYAGE/GENDER/BirthratesBYAGE/GENDER/SurvivalratesBYAGE/GENDER/militaryoflifeFirmsalesBY

13 INDUSTRYIndustrysalesBYINDUSTRYSalesorBY
INDUSTRYIndustrysalesBYINDUSTRYSalesorBYINDUSTRYBYINDUSTRYBYTYPEConsumerorBYTYPEPersonaltaxes,BYTYPEBYINDUSTRYBYINDUSTRYBYINDUSTRYOccupationaltrainingBYOCCUPATIONElectric,naturalgasandresidualfuelcostsBYTYPEImportorexportcostBYINDUSTRYProductioncosts,taxrates,andtaxcreditBYINDUSTRYBYTYPEtaxonBYINDUSTRY  Designedtoinspireyourpassionforpolicy,PIisthenextgenerationofthePolicyInsightThedesignissimpleandelegant,givingtheuserabsolutecontroloverthemostcomprehensivecomputerizedrepresentationoftheeconomy.Ourteamofsoftwareengineersissingle-mindedlyfocusedonquality.EveryaspectofPIiscreatedforthepurposeofimprovingeconomicanalysis.Byincorporatingsophisticatedmodelingcapabilitiesintoastreamlinedsystem,PIallowsyoutofullyconcentrateyourattentiononevaluatingkeyeconomicconsiderations.Themodelprovidesyouwithseriousnumber-crunchingcapabilities.Userscansimulatetheeffectsofanyaspectsoftheeconomy,calculatingchangestoth

14 ousandsofoutputvariablesinseconds.Theele
ousandsofoutputvariablesinseconds.Theeleganceoftheeconomicsandtheintelligenceofthedesignenablesapredictionoftheeffectsofpolicychangesƒbeforetheyhappen. Analystsneedhighperformanceinthevirtualworldofsimulationmodel-ingtospuronhighperformanceinyourhighwaynetwork.TranSightisthedynamiceconomicengineinbestpracticestransportationmodelingsystems.Integratingeconomicswithtraveldemandmodeling,TranSightdynami-callydemonstrateshowtransportationmakeseconomiescompetitive.WithTranSight,userstestalternativetransportationchangesandareabletoobservetheshort,andlong-termimpactonjobs,income,population,andothereconomicvariables.TranSightdriveshomeasinglemessage:transportationisthelocomotiveofeconomicgrowth.Byshowingtheeffectsoftransportationimprovementonjobsandeconomicdevelopment,TranSightgivesyouavoiceinsettinglegislativepriorities.TranSightisahighlycomplexmodelingtoolthatintegratestraveldemandmodelswiththeREMImodel,a

15 ndisconstructedwithextensivedataonemissi
ndisconstructedwithextensivedataonemissions,safetyvaluationfactors,andotherdata.TranSightisgroundedintheNewEconomicGeographyŽtheoryasputforthbyFan,Treyz,andTreyz(JournalofRegionalScience,Vol.40,No.4).TheproprietaryREMItransportationcostmatrixtranslateschangesinvehiclemilestravelledtochangesinlaboraccess,intermediateinputaccess,anddeliveredprices.Thesefactorschangeeconomiccompeti-tivenessanddriveeconomicgrowth. ConsultingAreas TheREMInameisrecognizedforquality,accuracy,andintegrity.Whenyouneedeconomicimpactstudiesofthehighestcaliber,turntoREMIsConsultingServices.Answeringwhatifƒ?Žquestionsaboutregionalpolicychangesisourcorecompetency.Withoveraquartercenturyofrespondingtothousandsofpolicyscenarioquestions,REMIisuniquelyqualifiedtosupportclientsundertakingstudiesortoundertakecompleteeconomicimpactstudies. EnergyandUtilities Sincetheutilityandbroaderenergysectorarehighlyregulated,accurateeconomican

16 alysisisvitalininformingpublicpolicy.Uti
alysisisvitalininformingpublicpolicy.UtilityandotherregulatorstrustthecredibilityofREMIstudies,andprivatecompaniesknowthatREMIprovidestheanswerstheyneed.REMIprojectsrangefromstudiesontheeffectsofratechangestoeconomicdevelopmentimpactsofutilitiesandenergy-relatedindustries. EconomicDevelopment REMIisknownfortheintegrityofitsanalysis.Aspolicymakersandthepublicareoftenskepticalabouteconomicimpactclaims,youneedcredibleanalysistodemonstratetheeffectsofyourproject.Stateandlocalstakeholdersneedtounderstandhowanewdevelopmentmayaddtoincome,output,andemploymentintheireconomy.REMIhasconductednumerouseconomicdevelopmentanalysesforpublicandprivateclients.Studiesincludeimpactsofmilitarybaserealignmentsandclosures,thebio-dieselindustryinNewYork,lifesciencesplantsinCalifornia,amajormixed-useentertainmentandhousingprojectinPennsylvania,andothers. Transportation Thepublicexpectsthatthetaxdollarsspentontransportatio

17 nprojectsleadstomorejobs,betterjobs,andi
nprojectsleadstomorejobs,betterjobs,andimprovedindustrycompetitiveness.TransportationagenciesturntoREMIforitsprovenexpertiseindevelopingaccurate,rigorousstudiesshowingtheeconomicdevelopmentimpactsoftransportation.REMIstudiesrangefromtollroadstomajorhighwayimprovements,fromairportimpactstotransit-orienteddevelopment. Environment Effortstoprotecttheenvironmentmayhavewide-reachingeconomicconsequences.REMIisknownforexpertiseindemonstratingthetotalmacroeconomiceffectsofenvironmentalpolicies.Studiesincludeanalysisoffeebates,renewableportfoliostandards,andcap-and-tradepolicies. Taxation Taxchangesmayhaveasignificanteffectoneconomicactivity.REMIisrecognizedforunbiasedanalysisoftheeconomicimplicationsoftaxchanges.Studiesincludeworkforboththeprivateandpublicsectors,inevaluatingsingletaxchangesoranoveralltaxreformpackage. Universities UniversitiesvalueREMImodelsfortheiracademicrigorandcapabilitytoperformanal

18 ysistocoverawiderangeofissuesofconcernto
ysistocoverawiderangeofissuesofconcerntoregionaleconomies.Ourmodelsarewidelyusedbypublicandprivateinstitutions,includ-ingmajorresearchuniversities,statecolleges,andlocallyfocusedschoolstoconductstudiesontheschoolsbehalf,aswellasonthebehalfofothers. ConsultingFirms ConsultingfirmsdependonREMItodelivermodelsthatrepresentthehigheststandardofperformanceandquality.Withtheadditionalassistanceofourunlimitedclienttechnicalsupport,consultantscanensurethatprojectsarecompletedinatimelyfashion,incorporatingthebestunderstandingofhowtheeconomyworks. FederalGovernment Federalagenciesrequirethebesttoolstounderstandtheimplicationsofwide-ranginghomelandsecurity,envi-ronmental,energy,andotherpolicies.Inparticular,theREMImulti-regionalU.S.models,whichencompassallstatessummingtotheU.S.total,demonstratespolicyeffectsonboththestateandnationaleconomy. StateGovernment Stateagenciesleadintheimplementationofpoliciesthathave

19 asub-nationalfocus.Assuch,statesrelyonRE
asub-nationalfocus.Assuch,statesrelyonREMIforitswidely-recognizedreputationandaccurate,unbiasedrepresentationoftheeconomy.StatesuseREMImodelsforallapplicationareas,includingeconomicdevelopment,transportation,taxation,planning,energyandtheenvi-ronment.Inmanycases,anumberofagenciesinasinglestategovernmentusthesameREMImodelasacommonplatformforeconomicpolicyanalysis. RegionalGovernment Regionalgovernmentsandorganizationsincluderegionalplanningcommissions,metropolitanplanningorgani-zations,airqualitymanagementdistricts,waterdistricts,andotherentities.TheyuseREMImodelsforpurposesrelatingtotheirmission,includinglong-rangeplanning,transportationanalysis,environmentalquality,andother CityGovernment CityGovernmentsuseREMIsmodelstofocusonbringinginemergingindustriesintoaspecifiedregion.PolicyInsightisahighlyrecognizednameamongcityagenciesthatusethemodeltostudyinfrastructureimprovementandbuilding,economicdev

20 elopment,energyefficiency,taxation,andpu
elopment,energyefficiency,taxation,andpublicpolicy.TranSightisusedtoforecastdataontransportationconcernssuchasfuelefficiency,safety,andfueldemand,andcanforecasttrans-portationcostsforfutureyears. KeyArticlesTheEvaluationofProgramsAimedatLocalandRegionalDevelopment:MethodologyandTwentyYearsExperienceUsingREMIPolicyInsight.ŽFrederickTreyzandGeorgeTreyz.EvaluatingLocalEconomicandEmploymentDevelopment:HowtoAssessWhatWorksAmongProgrammesandPolicies.OECD,Paris.2004.AnEvolutionaryNewEconomicGeographyModel.ŽWeiFan,FrederickTreyz,andGeorgeTreyz.JournalofScience.2000.MonopolisticCompetitionEstimatesofInterregionalTradeFlowsinServices.ŽJimBumgardnerandFrederickTreyz.RegionalCohesionandCompetitionintheAgeofGlobalization.Ed.HirotadaKohno,PeterNijkamp,andJacquesPoot.NorthamptonMA:EdwardElgar.2000.ProductionandAccessibility:BridgingProject-SpecificandMacroeconomicAnalysesofTransportationInvestments.ŽFrederi

21 ckTreyzandGlenWeisbrod.JournalofTranspor
ckTreyzandGlenWeisbrod.JournalofTransportationandStatistics1.3:65-79;1998.TheREMIMultiregionalU.S.PolicyAnalysisModel,ŽFrederickTreyzandGeorgeTreyz.1997.RegionalLaborForceParticipationRates,ŽGeorgeTreyz,C.G.Christopher,andC.Lou.1996.ConsumptionEquationsforaMultiregionalForecastingandPolicyAnalysisModel,ŽGeorgeTreyzandLisaPetraglia.1996.RegionalEconomicModeling:ASystematicApproachtoEconomicForecastingandPolicyAnalysis,Norwell:KluwerAcademicPublishers.GeorgeTreyz.1993.TheDynamicsofU.S.InternalMigration,ŽTheReviewofEconomicsandStatistics.GeorgeTreyz,M.J.Greenwood,G.L.Hunt,andD.S.Rickman.1993.PolicyAnalysisApplicationsofREMIEconomicForecastingandSimulationModels,ŽInternationalJournalofPublicAdministration.GeorgeTreyz.1993.MultiregionalStockAdjustmentEquationsofResidentialandNonresidentialInvestment,ŽJournalofRegional.GeorgeTreyz,D.S.Rickman,andG.Shao.1993.BuildingU.S.NationalandRegionalForecast

22 ingandSimulationModels,ŽEconomicsSystems
ingandSimulationModels,ŽEconomicsSystemsResearch.GeorgeTreyzandG.Shao.1993.AlternativeLaborMarketClosuresinaRegionalForecastingandSimulationModel,ŽGrowthandChangeGeorgeTreyzandD.S.Rickman.1993.TheREMIEconomic-DemographicForecastingandSimulationModel,ŽInternationalRegionalScienceReviewGeorgeTreyz,D.S.Rickman,andG.Shao.1992.EstimatingtheEconomicandDemographicEffectsofanAirQualityManagementPlan:TheCaseofSouthernCalifornia,ŽEnvironmentandPlanningA.GeorgeTreyzandS.Lieu.1992.Migration,RegionalEquilibrium,andtheEstimationofCompensatingDifferentials,ŽAmericanEconomicReview.GeorgeTreyz,M.J.Greenwood,G.L.Hunt,andD.S.Rickman.1991. ServiceOptions Dependinguponyourindividualneeds,usersmaypurchaseorrentamodeltobecustomizedforspecificregions.Ifyouprefer,REMIsconsultantscancarryoutpolicystudiesforyou.Temporarylicense(rental)Unlimitedmodeluseforaspecifictimeperiod.Perpetuallicense(purchase)Unlimitedmodelusein

23 perpetuity.Programsandcompletedocumentat
perpetuity.ProgramsandcompletedocumentationareprovidedforoperatingthemodelonyourownWindows-basedcomputer.Ongoingdevelopment,updating,support,andsharedresearchareavailabletothosewhopurchasemodels.Thisincludesunlimitedmodelsupportaswellasmodelimprovementsandupdates.ConferencesandSeminarsREMIoffersanannualUsersConferenceandperiodicOn-SiteSeminarsandOn-lineSeminarsforallonthetheoret-icalandappliedaspectsofPIandTranSightsuniqueregionalmodelingapproach.Economicanalysis,reports,andexperttestimony.ContactusWeinviteyoutoevaluateourresearchandmodels.ForfurtherinformationaboutREMImodelsandservices,pleasecontactourofficeorvisitourweb-siteatwww.remi.com.Weareabletosendyouabibliographyofourpublicationswithcompletecitations,modeldocumentation,oranyotherinformationthatyoumayneed. RegionalEconomicModels,Inc.433WestStreetAmherst,Massachusetts01002Telephone:413.549.1169Fax:413.549.1038E-mail:info@remi.comWebSite:w