Metropolitan Council’s Forecasts Methodology

The Metropolitan Council puts forth regional forecasts that consider the Twin Cities’ situation within the overall national economy and in order to assess their findings, it is important to understand the operative methodology behind the analysis. The Council selected REMI Policy Insight (PI) in 2011 as the most appropriate model for the Council’s understanding of regional growth. REMI PI combined with Citilabs’ Cube Land real estate model stand together as the main structure for the Metropolitan Council’s methodology.

Metropolitan Council – Metropolitan Council’s Forecasts Methodology [full PDF]

Decision Framework for Evaluating the Macroeconomic Risks and Policy Impacts of Cyber Attacks

Global cyber infrastructure is interconnected with and instrumental to economic prosperity and national security. However, most cyber infrastructure is not secure and is vulnerable to attacks from malicious actors potentially leading to failure of critical infrastructure, exploitation of sensitive information, and loss of intellectual property. The REMI PI+ model provided insight into the macroeconomic consequences and propagation across regions and industry sectors that would be involved with a substantial cyber attack. This modeling framework will aid policy makers by allowing for the assessment of cyber attack scenarios and cybersecurity policies linked to their potential economic consequences.

Sandia National Laboratories – Decision Framework [full PDF]

Regional Economic Competitiveness Assessment: Economic Forecast for The Regional Planning Commission of Greater Birmingham

On behalf of The Regional Planning Commission of Greater Birmingham, REMI prepared a report that produced a fundamental economic and demographic forecast for the six-county Greater Birmingham region and provided an assessment of the region’s economic competitiveness. This improved understanding of their region allows them the capability to plan and prepare accordingly for the future. REMI found that the Greater Birmingham region was in the process of macroeconomic recovery after significant growth fueled by housing and construction and that their recent steady annual population increase was on the decline. The report included economic policy suggestions like investing in infrastructure and human capital, continuing to make the region an attractive place to live and work, ensuring appropriate levels of taxation and expenditure, and providing a suitable regulatory environment for business and property.

RPCGB, REMI – Regional Economic Competitiveness Assessment [full PDF]

The Macroeconomic Impact of LNG Exports: Integrating the GPCM® Natural Gas Model and the PI+® Regional Model

This study was an integrated effort between RBAC and REMI to display how incorporating two complimentary modeling tools can create a more complete comprehension of the topic being analyzed. The REMI PI+ and RBAC GPCM models were combined to examine the macroeconomic impact of liquefied natural gas exports as an example for the benefits of using multiple models to improve the impacts and forecasts of the two. Policy decisions for both the private industry and policymakers should come down to multifaceted considerations, and they should consider environmental and other issues beyond purely economic ones.

RBAC, Inc., REMI – The Economic Impact of LNG Exports [full PDF]

Economic and Policy Statement: Universal Paid Leave Amendment Act of 2016 (B21-415)

A 70-sector regional economic model was built by REMI and customized to the Washington, D.C. Metropolitan Statistical Area so as to determine the impacts of the most progressive universal paid leave plan the District has ever enacted. Three scenarios that were modeled were: 1) businesses absorb the 0.62% payroll tax, 2) employees absorb the tax, and 3) employers and employees split the tax evenly. All three scenarios show very minor impacts to GDP and employment, but important social factors show significant improvements, particularly in reduction of infant mortality and increases in women’s labor force participation.

District of Columbia – Economic Policy Impact Statement [full PDF]