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Evaluating Alternative Regional Planning Models
Author(s) -
CRIHFIELD JOHN B.,
CAMPBELL HARRISON S.
Publication year - 1991
Publication title -
growth and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.657
H-Index - 55
eISSN - 1468-2257
pISSN - 0017-4815
DOI - 10.1111/j.1468-2257.1991.tb00544.x
Subject(s) - econometrics , balance (ability) , computer science , economics , psychology , neuroscience
The REMI and IMPLAN models are widely used approaches to estimating economic impacts for small regions. However, few benchmarks exist for assessing these estimates. This paper evaluates the relative performance of these models in terms of a given impact: the opening of an automobile assembly plant in central Illinois. Although our results are not conclusive and are limited by our application, we find that in terms of several indirect performance criteria, IMPLAN's outcomes, on balance, are somewhat more plausible than those for REMI.