An Evaluation of the REMI Model for the South Coast Air Quality Management District

S Cassing and F Giarratani

Environment and Planning A, 1992, vol. 24, issue 11, 1549-1564

Abstract: This paper reports an evaluation of the econometric model developed by Regional Econometric Models Inc. for the South Coast Air Quality Management District. The analysis is focused on the in-sample performance, forecasting ability, and characteristics in impact analysis of the model. The trade-offs implicit in the performance of this model relate directly to questions of explanatory power. In particular, the model is characterized by well-specified structural equations that enhance its ability to formulate policy-relevant simulations. This may come at the cost of predictive ability in a statistical sense. Choices related to this trade-off are at the heart of applied regional analysis.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envira:v:24:y:1992:i:11:p:1549-1564

DOI: 10.1068/a241549

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