Invention Summary: The R/ECONTM Input-Output Model (I-O) shows how sectors of an economy interact. For a given industry, the model shows the “production recipe” for the goods and services the industry sells and the shares of its revenues that are consumed by other industries in the economy. The R/ECONTM I-O model’s generates estimates of interregional trade by sector that are based on those conceived by the Regional Science Research Institute. Those estimates are recognized by the academic community as the most reliable estimates available.
R/ECONTM can customize models for any state, metropolitan area, county, or set of counties for which detailed data on employment and payroll are publicly available or provided by the client. Market Applications:
Advantages: The I-O model can be used in many different settings; for example, academic, by consultants, in businesses and corporations, government, and nonprofits. It can be used when there is a need for information or analysis for economic development (or marketing) purposes; or in any area that requires forecasting and forecast data. Intellectual Property & Development Status: Available through license or distribution agreement