A COMPARISON OF THE MULTIPLIERS OF IMPLAN, REMI, AND RIMS-II - BENCHMARKING READY-MADE MODELS FOR COMPARISON

The IMPLAN, REMI and RIMS II regional input-output models are used extensively in regional policy analysis. Yet, no study exists that compares all three models. Therefore, this study compares the multipliers of these three models for Clark County, Nevada. It is found that the multipliers of the default versions of the models delivered by the vendors significantly differ across models. Benchmarked versions of the models are obtained by controlling for differences in closure rules and techniques used to regionalize national input-output coefficients. The multipliers of the benchmarked versions generally do not significantly differ. Thus, conclusions can be reached about what differences exist between the multipliers of the three models and why. Moreover, the method used to benchmark the models for comparison provides users of these models with the potential to improve their model.