EAP Economic Planning Tools (REMI, STATA/SAS/SPSS)
Regional Economic Model Incorporated (REMI)
REMI predicts the economic impacts of policy decisions. REMI Policy insight is a leading regional economic modeling tool used to generate realistic year by year estimates of the total regional impacts of any policy changes. REMI combines the strength of different analytical tools such as, input-output, econometric, and economic base models. The model is calibrated to local conditions using a relatively large volume of data. This allows the user to manipulate a large amount of input and generates forecasts for a wide array of output variables. Unlike other microcomputer based regional forecasting models, REMI accounts for business cycles and allows the user special flexibility in analyzing the timing of economic impacts.
STATA/SAS/SPSS
EAP will use econometric models for trend analysis, consumer behavior analysis, forecasting, etc. STATA/SAS/SPSS will be employed to estimate economic models; these Statistical software packages have the estimation procedure built into them. STATA, SAS, and SPSS are three of the most comprehensive and popular statistical packages. They are both capable of extensive data analysis and manipulation.
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