Regional Economic Models, Inc. (REMI) Model

REMI is a dynamic model to assist policy- and decision-makers in five main topic areas, including energy, environment and economic development. The model incorporates four major approaches: Input-Output, General Equilibrium, Econometric, and Economic Geography modeling.

This tool is included in the Development Impacts Assessment (DIA) Toolkit from the LEDS Global Partnership.

Approach

The core of the REMI model is an input-output model that represents inter-industry relationships. This way, the industry structure of a particular region is captured within the model, as well as transactions between industries. The REMI model can represent long term general equilibrium between the supply and demand as prices, production, consumption, imports, exports, and other changes occur to stabilize the economic system. The model's equations and responses are estimated using advanced statistical techniques. The model is also capable of capturing the spatial dimension of the economy. This incorporates the productivity and competitiveness benefits due to the concentration, or agglomeration, of economic activity in cities and metropolitan areas, and to the clustering of industries.

When to Use This Tool

This tool is most useful for development impacts assessments focused on:

Social

Economic

Environmental

Learn more about the topics for assessing the impacts of low-emission development strategies (LEDS).

Key Outputs

Macroeconomic effects of energy and environmental policies such as fee rebates, renewable portfolio standards, and cap-and-trade measures. REMI models have been used for a wide range of topic areas, including economic development, the environment, energy, transportation, and taxation, forecasting, and planning.

How to Use This Tool

Training Available
The company offers consulting services for a fee; Webinars and Seminars available at: http://www.remi.com/events-2

Level of Expertise
Advanced

Key Inputs

Energy, environment, policy, taxation and economic data

Case Studies

Examples of how REMI has helped people assessing the impacts of low-emission development strategies in countries and regions:

Case studies on the following topic areas are available: Economic Development, Energy, Environment, Taxation, Transportation See http://www.remi.com/the-remi-model/topic-areas

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"The REMI model is a dynamic forecasting and policy analysis tool that can be variously referred to as an econometric model, an input-output model, or even a computable general equilibrium model. In fact, REMI integrates several modeling approaches, incorporating the strengths of each methodology while overcoming its limitations. The result is a comprehensive model that answers “what if…?” questions about your economy. "