Edited by Harry W. Richardson, Jiyoung Park, James E. Moore II and Qisheng Pan
Chapter 9: The economic impacts of Hurricanes Katrina and Rita on the oil and port sectors
Input-output models have been applied to the problem of economic impact estimation for many years. In recent years, our group has developed and applied IO models that include substantial spatial disaggregation. Most decision makers are interested in local effects and our models can estimate these. The Southern California Planning Model (SCPM) applies to the greater Los Angeles area and is used to estimate impacts for a large number of traffic analysis zones (TAZs). The recently developed National Interstate Economic Model (NIEMO) is a multiregional IO model for the 50 states and the District of Columbia. Both models provide results for 47 industrial sectors (labeled USC Sectors). NIEMO has a supply-side as well as a demand-side capability. In applications to hypothetical or actual port closures, for example, the loss of exports is best modeled via the demand-side NIEMO whereas the loss of imports is modeled via the supply-side NIEMO.
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