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Regional Economic Modelling: A Comparison Of Econometric, Input-Output And Integrated Modelling Of The Illawarra Economy, Ashkan Masouman, Charles Harvie
Regional Economic Modelling: A Comparison Of Econometric, Input-Output And Integrated Modelling Of The Illawarra Economy, Ashkan Masouman, Charles Harvie
Ashkan Masouman
The adoption of an integrated input-output and econometric (IO-EC) framework has gained increased attention in the regional science literature. Such an integrated framework attempts to combine the dynamic characteristic of time-series with the detailed intersectoral disaggregation of input-output (IO) analysis, to model the time path of the economy at the regional level and to provide more accuracy in representing the economic structure and analysing structural shifts within a regional economy. This paper applies econometric modelling, an IO analysis, and integrated IO-EC modelling to analyse the Illawarra region of NSW; the results from each of these models are then compared. The …
Regional Economic Modelling: Taxonomic Application Of Three Integration Approaches To The Illawarra's Economy, Ashkan Masouman, Charles Harvie
Regional Economic Modelling: Taxonomic Application Of Three Integration Approaches To The Illawarra's Economy, Ashkan Masouman, Charles Harvie
Ashkan Masouman
The integration of input-output analysis and econometric models has gained popularity for its superior performance in analysing the structure of a region's economy and examining the impacts of policies on a regional economy (West, 1995; Rey, 2000; Motii, 2005). There are a number of approaches through which an input-output model is integrated with an econometric model. This paper examines three approaches to regional integrated econometric input-output modelling, namely holistic embedding, coupling, and linking, from both theoretical and practical perspectives. Each approach is analysed based on their simulation and forecasting characteristics. All three approaches are applied to the Illawarra region of …