Multi-Regional Dynamic General Equilibrium Modeling of the U.S. Economy

USAGE-TERM Development and Applications
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Glyn Wittwer
561 g
241x161x20 mm

The book documents a model with a unique amount of detail on economy-wide and regional US economic activity
Chapter 1. Beyond Regional Input-Output Modeling.- Part I: Sectoral Detail in USAGE-TERM.- Chapter 2. Agriculture and Mining in Regional United States.- Chapter 3. Manufacturing Industries in the United States.- Chapter 4. Regional Electricity Supply in the United States.- Chapter 5. Regional Health Care, Education, International Trade, Other Services and Household Consumption.- Chapter 6. Tourism and Transport in a CGE Model and An Illustrative Application.- Part II: Potential Household and Fiscal Extensions.- Chapter 7. Enhancing the Links Between Income Sources, User Expenditures and Taxes in a CGE Database.- Chapter 8. Multiregional Fiscal Accounts.- Part III: Model Preparation.- Chapter 9. Preparing a Database for Dynamic CGE Modeling.- Chapter 10. Top-Down Extensions to Represent Counties and Congressional Districts and Moving to Bottom-Up.- Part IV: Model Applications.- Chapter 11. Modeling California's Drought.- Chapter 12.The Economic Effects of a Hypothetical Nuclear Attack on Downtown LA.
This book details the preparation of USAGE-TERM, a computable general equilibrium model that provides regional economic detail in the USA. The model can represent either congressional district or state level economic activity. The latter may include a top-down representation of county activity. Interest in USAGE-TERM is growing among government departments. It is a practical tool, which may enhance analysis of productivity growth and innovation, adverse events such as drought or civil disruption and the dynamic economic impacts of major projects. Economic analysts and policy makers care about regions. Some regions suffer growing pains, as supporting infrastructure and services struggle to cope with population growth. Soaring house prices and rentals may lower affordability for many. Other regions suffer ongoing decline due to structural change. Regional economic fluctuations are often far more dramatic than national fluctuations.