NTL-ECONOMICS AND FINANCE-Economic Impacts;NTL-PLANNING AND POLICY-PLANNING AND POLICY;
Abstract:
Because the traffic forecasts produced by the Indiana Statewide Travel Demand Model (ISTDM) are driven by the demographic and socioeconomic inputs to the model, particular attention must be given to obtaining the most accurate demographic and socioeconomic forecasts. The Regional Economic Models, Inc. (REMI), model, which was customized for the state of Indiana, is the fundamental tool employed by Indiana Department of Transportation (INDOT) to provide long-range socioeconomic forecasts that are used as inputs to the ISTDM. In the recent development of its 2035 long-range plan, INDOT attempted to use the REMI model for the long range socioeconomic forecasts. For Indiana’s large manufacturing sector, the REMI forecast for employment was extremely pessimistic, predicting that total employment would not return to 2007 levels until 2035. Instead, INDOT used a forecast from Woods and Poole, which showed a short-term employment reduction, followed by modest levels of employment growth extending to 2035.
The role of the REMI Policy Insight+ model in socioeconomic forecasting and economic impact analysis of transportation projects was assessed. The REMI...
The limitations of currently used estimation procedures in socio-economic modeling have been highlighted in the ongoing work of Senge, in which it is ...
Links with this icon indicate that you are leaving a Bureau of Transportation
Statistics (BTS)/National Transportation Library (NTL)
Web-based service.
Thank you for visiting.
You are about to access a non-government link outside of
the U.S. Department of Transportation's National
Transportation Library.
Please note: While links to Web sites outside of DOT are
offered for your convenience, when you exit DOT Web sites,
Federal privacy policy and Section 508 of the Rehabilitation
Act (accessibility requirements) no longer apply. In
addition, DOT does not attest to the accuracy, relevance,
timeliness or completeness of information provided by linked
sites. Linking to a Web site does not constitute an
endorsement by DOT of the sponsors of the site or the
products presented on the site. For more information, please
view DOT's Web site linking policy.
To get back to the page you were previously viewing, click
your Cancel button.
United States Department of Transportation
[PDF-1.01 MB]
