Box D: National Institute Regional Modelling System (NiReMS): Methodology and Updates

Arnab Bhattacharjee and Tibor Szendrei

National Institute UK Economic Outlook, 2022, issue 5, 41-44

Abstract: The UK has lacked an extensive information system to provide timely data and projections to support regional policy and governance. Nowcasting methods have been recently developed (Koop et al., 2020a and b) and implemented in ESCoE (2021). However, methods and models capable of producing projections of socioeconomic performance for the country and its regions into the medium run future were needed to understand regional and sectoral impacts of the Covid-19 and Brexit shocks and evaluate policy for regional regeneration. This was particularly critical with recent supply chain disruptions and reduced mobility that transformed both the relevance of global shocks and the nature of inter-regional spill-overs.

Date: 2022
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