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Regional economic modelling: evaluating existing methods and models for constructing an Irish prototype

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  • Ahmed, Vaqar

Abstract

This paper provides an overview of competing and supplementing methodologies for modelling the regional economic dynamics. The discussion provides a primer on how regional CGE, Econometric, Input-Output and SAM based models work towards capturing the region-specific, interregional and multiregional production, consumption and factor market patterns. An analysis of virtues and limitations of these alternate methodologies suggests that it may be the considerations such as the data collection/compilation, expected output, research objectives and costs involved that may determine the choice of modelling framework. Several existing regional models constructed for other countries and their characteristics are summarized along with the specific discussion on regional economic impact analysis in Ireland and how one could move towards constructing an Irish prototype.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7650.

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Date of creation: 09 Jan 2006
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Handle: RePEc:pra:mprapa:7650

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Related research

Keywords: Input Output; Social Accounting Matrix; Computable General Equilibrium (CGE) Model;

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  1. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, American Economic Association, vol. 78(1), pages 89-107, March.
  2. James Giesecke, 2003. "Targeting Regional Output with State Government Fiscal Instruments: a Dynamic Multi-regional CGE Analysis," Australian Economic Papers, Wiley Blackwell, Wiley Blackwell, vol. 42(2), pages 214-233, 06.
  3. Mark Horridge, 2000. "ORANI-G: A General Equilibrium Model of the Australian Economy," Centre of Policy Studies/IMPACT Centre Working Papers op-93, Victoria University, Centre of Policy Studies/IMPACT Centre.
  4. Henry, E. W., 1986. "Multisector Modelling of the Irish Economy with Special Reference to Employment Projections," Research Series, Economic and Social Research Institute (ESRI), Economic and Social Research Institute (ESRI), number GRS128.
  5. Bradley, John & Fanning, Connell, 1984. "Aggregate Supply, Aggregate Demand and Income Distribution in Ireland: A Macrosectoral Analysis," Research Series, Economic and Social Research Institute (ESRI), Economic and Social Research Institute (ESRI), number GRS115.
  6. Adams, F Gerard & Brooking, Carl G & Glickman, Norman J, 1975. "On the Specification and Simulation of a Regional Econometric Model: A Model of Mississippi," The Review of Economics and Statistics, MIT Press, vol. 57(3), pages 286-98, August.
  7. Lofgren, Hans & Robinson, Sherman, 1999. "Spatial networks in multi-region computable general equilibrium models:," TMD discussion papers 35, International Food Policy Research Institute (IFPRI).
  8. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 90(6), pages 1257-78, December.
  9. Patricia E. Beeson & Randall W. Eberts, 1987. "Identifying productivity and amenity effects in interurban wage differentials," Working Paper 8707, Federal Reserve Bank of Cleveland.
  10. Maurizio Bussolo & Mohamed Chemingui & David O’Connor, 2003. "A Multi-Region Social Accounting Matrix (1995) and Regional Environmental General Equilibrium Model for India (REGEMI)," OECD Development Centre Working Papers 213, OECD Publishing.
  11. James Giesecke & John R. Madden, 2003. "Regional Labour Market Adjustment to Competition Policy Reforms: A Dynamic CGE Framework for Assessment," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 6(3), pages 409-433, September.
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Cited by:
  1. Manuel Alejandro Cardenete Flores, 2009. "Federalismo fiscal a partir de un modelo de equilibrio general aplicado: Andalucía vs. España," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 4, pages 359-366.

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