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The Structure of the REMI - Model

The Structure of the REMI - Model. REMI Model Structure. Output. Population & Labor Supply. Market Shares. Labor & Capital Demand. Wages, Prices, & Profits. (1) Output Block. 8. Commodity Access Index. 10. Change in Local Supply. 9. Intermediate Input Productivity.

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The Structure of the REMI - Model

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  1. The Structure of the REMI - Model

  2. REMI Model Structure Output Population & Labor Supply Market Shares Labor & Capital Demand Wages, Prices, & Profits

  3. (1) Output Block 8. Commodity Access Index 10. Change in Local Supply 9. Intermediate Input Productivity 7. Intermediate Inputs 2. Consumption 1. Real Disposable Income 6. Output 5. State and Local Government Spending 3. International Exports 4. Investment

  4. Market Share (Block 5) Economic Migrant (Block 3) Consumer Prices (Block 4) Composite Price (Block 4) Wage Rate (Block 4) Population (Block 5) Not Shown Commuter Income or Outflow, Property Income, Transfers, Taxes, Social Security Payments Optimal vs. Actual Capital Stock (Block 2) Employment (Block 2) Share of International Market (Block 4) Share of Domestic Markets (Block 4) (1) Output Block 8. Commodity Access Index 10. Change in Local Supply 9. Intermediate Input Productivity 7. Intermediate Inputs 2. Consumption 1. Real Disposable Income 6. Output 5. State and Local Government Spending 3. International Exports 4. Investment

  5. (2) Labor & Capital Demand 2. Industry Employment 8. Actual Capital Stock 9. Gap between Actual and Optimal Stock 1. Labor Productivity 3. Occupation Employment 7. Optimal Non-Residential Capital Stock 11. Government Employment 4. Labor Access Index by Occupation and Industry 5. Labor Substitution Effect for Capital 10. Optimal Residential Capital Stock 6. Capital Intensity

  6. Real Disposable Income (Block 1) Wage Rate and Relative Employment Opportunity (Block 4) Investment (Block 1) Output (Block 1) Calculating Earnings (Block 1) Government Output (Block 1) Composite Wage Rate (Block 4) Real Disposable Income (Block 1) Wage Rate vs. Capital (Block 4) (2) Labor & Capital Demand 2. Industry Employment 8. Actual Capital Stock 9. Gap between Actual and Optimal Stock 1. Labor Productivity 3. Occupation Employment 7. Optimal Non-Residential Capital Stock 11. Government Employment 4. Labor Access Index by Occupation and Industry 5. Labor Substitution Effect for Capital 10. Optimal Residential Capital Stock 6. Capital Intensity

  7. (3) Population Labor Supply 5. Participation Rate 6. Labor Force 4. The Employment to Potential Labor Force 3. Potential Labor Force 2. Population 1. Economic Migration

  8. Employment Opportunity (Block 4) Relative Real Wage Rate (Block 4) Wage Rate (Block 4) Residentially Adjusted Employment (Block 2) Local Government Spending (Block 1) Housing Price (Block 4) Commodity Access Index (Block 1) Employment Opportunity E/LF (Block 4) Relative Real Wage Rate (Block 4) (3) Population Labor Supply 5. Participation Rate 6. Labor Force 4. The Employment to Potential Labor Force 3. Potential Labor Force 2. Population 1. Economic Migration

  9. (4) Wages, Prices & Costs 1. Employment Opportunity E/LF 3. Composite Wage Rate 2. Wage Rate 7. Real Wage Rate 10. Real Relative Wage Rate for Migrants 5. Production Costs 6. Consumer Prices 4. Composite Input Costs 8. Housing Price 9. Consumer Prices Including Housing Price

  10. Occupational Employment (Block 4) Labor Access Index by Occupation and Industry (Block 2) Residentially-Adjusted Employment (Block 2) Labor Force Migrants (Block 3) Input Access Productivity Effect (Block 1) Change in Population Density (Block 3) Change in Real Disposable Income Share of Domestic Markets (Block 5) Share of International Exports and Imports (Block 5) (4) Wages, Prices & Costs 1. Employment Opportunity E/LF 3. Composite Wage Rate 2. Wage Rate 7. Real Wage Rate 10. Real Relative Wage Rate for Migrants 5. Production Costs 6. Consumer Prices 4. Composite Input Costs 8. Housing Price 9. Consumer Prices Including Housing Price

  11. (5) Market Shares 2. Share of International Exports and Imports Markets 1. Share of Domestic Market

  12. Changes in Quantity of Supply (Block 1) Output for Domestic Market (Block 1) International Exports (Block 1) Changes in Delivered Costs Relative to Competitors’ (Block 4) and Other Regions’ Delivered Prices (5) Market Shares 2. Share of International Exports and Imports Markets 1. Share of Domestic Market

  13. REMI Model Linkages (Excluding Economic Geography Linkages)

  14. REMI Model Structure Output Population & Labor Supply Market Shares Labor & Capital Demand Wages, Prices, & Profits

  15. ECONOMIC GEOGRAPHY LINKAGES REMI Model Structure (2002 - ) Output Population & Labor Supply Market Shares Labor & Capital Demand Wages, Prices, & Costs

  16. Economic Geography Linkages

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