Introduction

Harry W. Richardson () and Qisheng Pan ()
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Harry W. Richardson: Universidad Autónoma del Estado de Mexico
Qisheng Pan: Texas Southern University

Chapter Chapter 1 in Regional Economic Impacts of Terrorist Attacks, Natural Disasters and Metropolitan Policies, 2015, pp 3-17 from Springer

Abstract: Abstract This book deals with perhaps the most long-established regional science model, the multiregional input-output model (MRIO), and applies to several public policy issues in a metropolitan context. The version of the model eventually developed is one of the most spatially disaggregated ever. We do not explore the full range of regional science models, but we do compare input-output with its most competitive rival, the computable general (CGE) model (especially in Chap. 2 ). MRIO focuses on geographical disaggregation, while CGE is stronger on intersectoral differences. There has been some progress in blending the models, for example relaxing the strict assumption of fixed production coefficients and introducing supply side approaches and both factor and price substitution in input-output analysis and expanding the number of spatial units in CGE, but there is still much progress to be made. The best guess is that each of the models will continue the trend of leaning towards the other, and it is even possible that eventually both approaches will be fully integrated.

Keywords: Terrorist Attack; Computable General Equilibrium; Computable General Equilibrium Model; Vehicle Mile Travel; Traffic Analysis Zone (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-319-14322-4_1

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DOI: 10.1007/978-3-319-14322-4_1

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