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v1.2 Major Changes

v1.2 Major Changes. Major Economic Data Sources. BEA Local Area Personal Income and Employment county data (2001-2008), 04/22/2010 release.

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v1.2 Major Changes

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  1. v1.2 Major Changes

  2. Major Economic Data Sources • BEA Local Area Personal Income and Employment county data (2001-2008), 04/22/2010 release. • Estimates of detailed employment and wage data for the states of Michigan and Nevada (2001-2008) was provided by Don Grimes of the University of Michigan. • BEA State Personal Income and Employment state and national data (1990-2008), 03/25/2010 release. • BLS Employment Projections national data (1993-2008 and 2018), 12/11/2009 release. • RSQE national forecast (2009-2012), 06/16/2010 release. • Long-term forecast of detailed GDP and Labor Productivity was provided by Don Grimes of the University of Michigan.

  3. Major Demographic Data Sources • BEA Local Area Population county data (1990-2008), 04/22/2010 release. • Census Population by age, sex, race, component of change county data (1990-2008). • BLS Labor Force county data (1990-2008). • CDC birth rate state data (1990-2006). • Census natality rate, survival rate, and net international migrant national data and forecast (1999-2100). • BLS Participation Rate national data and forecast (1990-2050).

  4. PI+ v1.2 Major Changes • Modified 169 level industry list to match the detail supported by the new BLS input-output table • New Data Suppression Estimation Procedure • New Estimates of Trade Flow Parameters

  5. Data Suppression • Starting values for state-level constrained optimization are now estimated based on the time series and stepwise regression in addition to maximum and minimum bounds. • Constrained optimization procedure incorporated for county-level 23 sector data. Starting values are the mid-point of the maximum and minimum bounds, then a RAS procedure is used to hit column and row targets (industries add up to county total employment as well as industry totals for the state).

  6. Selected Industry and Region Trade Flow Comparisons – Self Supply as Share of Domestic Trade Flows for Counties in Massachusetts

  7. Major Changes, continued • Modified State Government Expenditure Predictions (available in state models) to be based on the average per capita state government demand in the last history year instead of the current year’s state government spending. This change was implemented to offset the relatively large response state government spending has to changes in GDP. • Alternative Model Option for State & Local Government Spending Response to GDP has been added to allow users to change the government spending response to be based on population only, instead of a combination of population and GDP.

  8. Major Changes, continued • Addition of Natural Disaster Scenario • Integrated and Updated Translator Policy Variables • New Policy Variables for Farm • New Map/Diagram View of Model for Policy Variables and Results • Real $ converted from 2000 to 2005 • 3D Chart option added • Updated DevSight Presentation • Numerous New Result Variables Added • Reduced Memory Requirement

  9. Major Changes, continued • New Reports The first version of a new reporting feature has been added that allows users to select and organize tables and charts into a single PDF document and allows just-in-time previewing by the item or as a group.

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