REMI Policy Insight is a structural forecasting and policy analysis model that was utilized to conduct this comprehensive study that evaluated the economic impact of 9/11 on the air industry and the overall economy of New York and the surrounding region. REMI was able to recreate economic interactions on a regional basis and simulate the economic impact of the events of 9/11, quantifying the economic impacts using various economic indicators, including employment, gross regional product, output, real disposable personal income, labor productivity, and population. Not only did the city experience a loss of jobs due to the drops in demand for travel and the cut backs in consumer spending, business spending and capital investments, it also experienced job loss due to the relocation of businesses from New York City to the surrounding area and elsewhere in the country.
Regional Economic Models, Inc. – The Economic Impact of 9/11 on the New York City Region [full PDF]
