The Washington Projection and Simulation Model: A Regional Interindustry Econometric Model
- 1 April 1990
- journal article
- Published by SAGE Publications in International Regional Science Review
- Vol. 13 (1-2) , 141-165
- https://doi.org/10.1177/016001769001300110
Abstract
Originally built in 1977, the Washington Projection and Simulation Model (WPSM) is a regional interindustry econometric model designed for forecasting and impact analysis. This article describes the most recent formulation of WPSM, analyzes the accuracy of the long-range forecasts prepared with the original model in 1976, and evaluates the model's simulation properties. The experience of developing and applying WPSM over the past ten years provides a basis for assessing the relative merits of this seldomly followed approach to regional economic modeling.Keywords
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