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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.

Suggested Citation

  • Ahmed, Vaqar, 2006. "Regional economic modelling: evaluating existing methods and models for constructing an Irish prototype," MPRA Paper 7650, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:7650
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    File URL: https://mpra.ub.uni-muenchen.de/7650/1/MPRA_paper_7650.pdf
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    References listed on IDEAS

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    1. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-1278, December.
    2. Lofgren, Hans & Robinson, Sherman, 1999. "Spatial networks in multi-region computable general equilibrium models:," TMD discussion papers 35, International Food Policy Research Institute (IFPRI).
    3. Mark Partridge & Dan Rickman, 2010. "Computable General Equilibrium (CGE) Modelling for Regional Economic Development Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1311-1328.
    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), number GRS128.
    5. Beeson, Patricia E & Eberts, Randall W, 1989. "Identifying Productivity and Amenity Effects in Interurban Wage Differentials," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 443-452, August.
    6. James Giesecke, 2003. "Targeting Regional Output with State Government Fiscal Instruments: a Dynamic Multi-regional CGE Analysis," Australian Economic Papers, Wiley Blackwell, vol. 42(2), pages 214-233, June.
    7. S J Rey, 1997. "Integrating Regional Econometric and Input—Output Models: An Evaluation of Embedding Strategies," Environment and Planning A, , vol. 29(6), pages 1057-1072, June.
    8. 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.
    9. 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), number GRS115.
    10. 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 286-298, August.
    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, vol. 6(3), pages 409-433, September.
    12. 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, vol. 78(1), pages 89-107, March.
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    Cited by:

    1. Manuel Alejandro Cardenete Flores, 2006. "Federalismo fiscal a partir de un modelo de equilibrio general aplicado: Andalucía VS. España," Economic Working Papers at Centro de Estudios Andaluces E2006/22, Centro de Estudios Andaluces.

    More about this item

    Keywords

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

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • C0 - Mathematical and Quantitative Methods - - General

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