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About the REMI Policy Insight Model <br /> A software analysis forecasting model developed by Regional Economic Models, Inc. (REMI) of <br /> Amherst Massachusetts in the mid 1980's. It has a broad national customer base among public <br /> agencies, academic institutions, and the private-sector. It is also used in Canada(NRCan), and <br /> among other international clients. The model configuration used for this study consisted of 18 <br /> aggregate private-sector industries,plus a farm sector, a combined state/local government sector <br /> and two federal government sectors. <br /> Economic Impacts Identified with the REMI Model <br /> f <br /> What are the <br /> effects of the <br /> we2 Proposed <br /> Action? <br /> 1 <br /> The REMI Model <br /> T r Baseline values <br /> rvuc for all Policy <br /> y JP Action Variables <br /> •-. __ E -921 ---1 <br /> Alternative Forecast <br /> ■imiumereosoor 1411111111°. .:. _ <br /> Control Forecast <br /> Compare Forecasts <br /> In the above figure,the central box "The REMI model" is the engine for predicting the economic <br /> and demographic dimensions of a region-of-impact(here Alameda County) under no-action (or <br /> Control forecast) and with a proposed CCA(alternative forecast). The engine is a combination <br /> structural econometric model, part input-output transactions, all with general equilibrium <br /> features—meaning an economy can encounter a disruption (positive or negative), and over time <br /> (typically 1-3 years depending on the scale of the region and the size of the shock) re-adjust back <br /> E- 12 <br />