The purpose of the research described in this report is to produce an econometric model of the Upstate New York economy and two metropolitan areas within it—Albany and Syracuse. The model is intended to satisfy three main criteria. First, the model should be capable of capturing the dynamic nature of the local economy. This simply reflects the widely held belief that the local economy’s response to various external forces and policies is unlikely to be immediate. Second, the model ought to be capable of generating short-run forecasts. In particular, quarterly forecasts for one or two years are preferred to long-run forecasts. This is done in order to be most useful to the planning purposes of Niagara Mohawk. Third, the model is to be developed and maintained by economists knowledgeable of the local economy and estimated specifically for the local economies using locally available data.
Metropolitan Studies Program Series
Economic Policy | Economics | Public Affairs, Public Policy and Public Administration | Public Policy
Dutkowsky, Donald H.; Follain, James; and Giertz, Seth, "A Time-Series Econometric Model of the Upstate New York Economy" (1999). Center for Policy Research. 438.
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