Multi-Region CGE Models
Economic impact analysis based on the input-output approach takes into account the direct impact of the project on regional economic activity, and some of the downstream effects of the induced demand for goods and services elsewhere in the economy. But it does not take into account structural adjustments brought about by large infrastructure and industry development projects. Computable General Equilibrium (CGE) modelling is generally appropriate in these types of analyses, particularly where the focus is on impacts at a state or national level.
The multi-region CGE model used by EconSearch recognises:
- producers classified by industry and domestic region;
- investors similarly classified;
- multiple region-specific household sectors; and
- aggregate foreign purchaser of the domestic economy’s exports.
The model contains explicit representation of intraregional and interregional trade flows based on the EconSearch in-house input-output database. As each region has been modelled separately, the model captures the changes in economic activity resulting from the impact event (improvement in productivity, infrastructure investment, etc) . Second and subsequent round effects are captured via the model’s input-output linkages and account for economy-wide and international constraints.
The core input-output database of the CGE model is based on the Monash MRF model (MMRF), a multi-region model of the Australian economy.
View Economic Modelling work undertaken by Econsearch.
Latest News
Economic Impact of Aquaculture on the SA State and Regional Economies
28 July 2010: The Hon Michael O'Brien released a media statement today with the headline 'South Australia’s aquaculture industry experienced spectacular jobs growth of 14.1 per cent in 2008-09' (click here for media release). See the latest EconSearch report on the economic impact of aquaculture on the SA state and regional economies for more details.
Economic Analysis of Road Funding Options on Kangaroo Island
12 July 2010: The Kangaroo Island (KI) transport strategy identifies the need for transport investment to support future agricultural and tourism industry developments. Julian Morison presented the results of modelling the costs and benefits of transport infrastructure investment to a meeting in Kingscote of KI Council and community members.
Presentation to the Asian Studies Association of Australia
8 July 2010: "SA's Engagement with the Asia Pacific Region: Primary Industries" was the topic of Julian Morison's presentation to the Asian Studies Association of Australia 18th Biennial Conference held in Adelaide.
2020 Vision for the Australian Feedlot Industry
July 2010: A report prepared by EconSearch, Feedlot Services Australia and Warwick Yates & Associates on the economic impact of projected feedlot industry expansion was reported on in the July edition of ALFA Lotfeeding magazine. Contact Des Rinehart at MLA on (07) 3620 5236 or email him for further details.