Abstract: This chapter describes the modeling of the regional economy. In an attempt to model the regional economic system of Styria, an integrated approach was pursued which combines econometric and input-output modeling techniques. Thus, the applications of the model in impact analysis and forecasting take into account both inter-sectoral linkages as well as the dynamic behavior of the variables. The combination of econometric and input–output techniques in this type of model enables to construct input output tables for any year for which data is there in time series. These derived input-output tables can be used to compare the development of sectoral linkages over time and analyze the structural changes that took place in the region. Another field of exercise for the model is the impact analysis of policy shifts or large-scale investment projects in the region. The occurrence whose impacts are to be analyzed is modeled as exogenous shocks. It is found that the input–output module allows for a detailed sectoral disaggregation of these effects, while their spreading over time can be shaped by the econometric module.
Publication Year: 2003
Publication Date: 2003-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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