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www.bea.gov RIMS II Regional Input-Output Modeling System Zoë O. Ambargis BEA/PNREAP/University of Nevada Regional Economic Workshop Reno, NV September 29, 2009
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www.bea.gov 2 What is RIMS II? ▪ Input-output model developed by the BEA in the mid 1970’s ▪ Incorporates linkages among industries in a regional economy ▪ Best suited for analyzing the impacts of small changes in a regional economy
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www.bea.gov 3 RIMS II Has Been Used to Analyze a Variety of Projects ▪ Opening and closing military bases ▪ Changes in tourism ▪ New energy facilities ▪ Construction of sports facilities ▪ New retail establishments ▪ New airports or port facilities ▪ Opening and closing manufacturing plants ▪ Contribution of universities and hospitals
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www.bea.gov 4 Framing Your Analysis ▪ What is the project/issue being studied? ▪ What is the change? ▪ What is the magnitude of the change? ▪ What is the timing? ▪ Which industries are affected? ▪ What is the affected region?
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www.bea.gov 5 Ordering RIMS II Multipliers
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www.bea.gov 6 Type I and Type II Multipliers ▪ Type I multipliers Industry impacts only Total impact = direct + indirect ▪ Type II multipliers Industry impacts and household expenditure impacts Total impact = direct + indirect + induced More commonly used than Type I multipliers
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www.bea.gov 7 Annual and Benchmark Series ▪ Annual series 2006 national annual I-O data and 2006 regional data More current, less detailed 60 aggregate industries ▪ Benchmark series 1997 national benchmark I-O data and 2006 regional data More detailed, less current 473 detailed and 60 aggregate industries
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www.bea.gov 8 Application Example 1
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www.bea.gov 9 RIMS II Multipliers
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www.bea.gov 10 Calculating Impacts Using Type II Final-Demand Multipliers
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www.bea.gov 11 Accessing Your Multipliers
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www.bea.gov 12 Multiplier Table 1.5
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www.bea.gov 13 Comparison of Type I and Type II Impacts
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www.bea.gov 14 Application Example 2
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www.bea.gov 15 Calculating Impacts Using Type II Direct-Effect Multipliers
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www.bea.gov 16 Multiplier Table 1.5
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www.bea.gov 17 Common Mistakes ▪ Defining the study area incorrectly ▪ Averaging multipliers ▪ Treating employment impacts as FTE impacts ▪ Not converting purchasers’ values to producers’ values ▪ Treating changes in intermediate use as final-demand changes ▪ Not considering the net impact ▪ Using multipliers for “Other government enterprises” to estimate impacts of government ▪ Treating output impacts as Gross Domestic Product (GDP) impacts
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www.bea.gov 18 2002 Benchmark Update ▪ RIMS II multipliers will be based on 2002 national benchmark I-O data 2007 regional data ▪ Dimensions of tables will change 406 detailed industries (compared to 473) 62 aggregate industries (compared to 60) 21 row industries (compared to 20)
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www.bea.gov 19 Thank You Zoë Ambargis Becca Bess Hope Franklin Thomas McComb Web site: www.bea.gov/regional/rims/www.bea.gov/regional/rims/ Phone: 202-606-5343 Fax: 202-606-5321 E-mail: rims@bea.gov
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