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A comparison of the multipliers of IMPLAN, REMI, and RIMS II: Benchmarking ready-made models for comparison

Author

Listed:
  • R. Keith Schwer

    (Department of Economics, University of Nevada, Las Vegas, 4505 Maryland Parkway, Las Vegas, NV 89154, USA)

  • Dan S. Rickman

    (Department of Finance and Economics, Georgia Southern University, LB 8151, Statesboro, GA 30460, USA)

Abstract

The IMPLAN, REMI and RIMS II regional input-output models are used extensively in regional policy analysis. Yet, no study exists that compares all three models. Therefore, this study compares the multipliers of these three models for Clark County, Nevada. It is found that the multipliers of the default versions of the models delivered by the vendors significantly differ across models. Benchmarked versions of the models are obtained by controlling for differences in closure rules and techniques used to regionalize national input-output coefficients. The multipliers of the benchmarked versions generally do not significantly differ. Thus, conclusions can be reached about what differences exist between the multipliers of the three models and why. Moreover, the method used to benchmark the models for comparison provides users of these models with the potential to improve their model.

Suggested Citation

  • R. Keith Schwer & Dan S. Rickman, 1995. "A comparison of the multipliers of IMPLAN, REMI, and RIMS II: Benchmarking ready-made models for comparison," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 29(4), pages 363-374.
  • Handle: RePEc:spr:anresc:v:29:y:1995:i:4:p:363-374
    Note: Received: September 1993 / Accepted in revised form: May 1995
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    Citations

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    Cited by:

    1. Domański Bolesław & Gwosdz Krzysztof, 2010. "Multiplier Effects in Local and Regional Development," Quaestiones Geographicae, De Gruyter Open, vol. 29(2), pages 27-37, June.
    2. Ricardo Gazel & R. Schwer, 1997. "Beyond Rock and Roll: The Economic Impact of the Grateful Dead on a Local Economy," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 21(1), pages 41-55, March.
    3. Adam Rose & Dan Wei & Fynnwin Prager, 2012. "Distributional Impacts Of Greenhouse Gas Emissions Trading: Alternative Allocation And Recycling Strategies In California," Contemporary Economic Policy, Western Economic Association International, vol. 30(4), pages 603-617, October.
    4. Adam Rose & Dan Wei & Noah Dormady, 2011. "Regional macroeconomic assessment of the Pennsylvania Climate Action Plan," Regional Science Policy & Practice, Wiley Blackwell, vol. 3(4), pages 357-379, November.
    5. Erik Dietzenbacher & Manfred Lenzen & Bart Los & Dabo Guan & Michael L. Lahr & Ferran Sancho & Sangwon Suh & Cuihong Yang, 2013. "Input--Output Analysis: The Next 25 Years," Economic Systems Research, Taylor & Francis Journals, vol. 25(4), pages 369-389, December.
    6. Tamás Dusek & Miklós Lukovics & Patrick Bohl, 2011. "The economic impact of the Budapest Airport on the local economy," ERSA conference papers ersa11p1228, European Regional Science Association.
    7. Kenneth Button, 2016. "The political economy of shipping US food and aid under the cargo preference regime," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 18(4), pages 353-370, December.
    8. McKean, John R. & Spencer, William P., 2003. "Implan Understates Agricultural Input-Output Multipliers: An Application To Potential Agricultural/Green Industry Drought Impacts In Colorado," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 21(2).
    9. repec:eee:retrec:v:61:y:2017:i:c:p:56-69 is not listed on IDEAS
    10. Gordon Mulligan & Randall Jackson & Amanda Krugh, 2013. "Economic base multipliers: a comparison of ACDS and IMPLAN," Regional Science Policy & Practice, Wiley Blackwell, vol. 5(3), pages 289-303, August.

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