Indiana Model
of Indiana
of Indiana
|
|
of Indiana |
The Indiana Model of Indiana (IMI) produces forecasts for the values of employment and income variables for the state of Indiana. Employment is disaggregated into 32 sectors using the North American Industrial Classification System (NAICS). There are 14 manufacturing sectors,, 15 for non-manufacturing, and 3 for government. The model model currently contains 79 Indiana variables, 5 of which are exogenous. The 74 endogenous variables are determined by 45 behavioral equations and 29 identities.
The forecasting process involves three separate steps. The first uses a U.S. Satellite model (USSAT) to forecast employment by industry sector at the national level. The exogenous variables for the USSAT model are provided by the Indiana Model of the United States (IMUS). In the second stage state level variables are put through a seasonal adjustment process. The final step in the process uses the Indiana Model of Indiana (IMI). This model makes use of the data provided by the USSAT and the seasonal adjustment procedure to create the Indiana forecast.
Short-run (two year horizon) forecasts are done on a quarterly schedule and long-run (twenty year horizon) projections on a semi-annual schedule.
Last updated: 18 July 2003
URL: http://www.indiana.edu/~cemr/IMI.html
Comments: witte@indiana.edu
Copyright 2003, The Trustees of Indiana University