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.

Document Type

Working Paper






Metropolitan Studies Program Series


Economic Policy | Economics | Public Affairs, Public Policy and Public Administration | Public Policy


0732 507X

Additional Information

Metropolitan studies program series occasional paper no.195


Local Input

Creative Commons License

Creative Commons Attribution 4.0 International License
This work is licensed under a Creative Commons Attribution 4.0 International License.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.