Socioeconomic Forecasting: [Technical Summary]

Fricker, Jon D.

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Socioeconomic Forecasting: [Technical Summary]

2012-01-01
By Fricker, Jon D.

File Language:

English

Details

Creators:

Fricker, Jon D.
Corporate Creators:

Purdue University. Joint Transportation Research Program
Corporate Contributors:

Indiana. Dept. of Transportation
Subject/TRT Terms:
Resource Type:

Research Paper
Geographical Coverage:

Indiana
Edition:

Technical summary.
Corporate Publisher:

Purdue University. Joint Transportation Research Program
NTL Classification:

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.
Format:

PDF
Funding:

SPR-3504
Download URL:

https://rosap.ntl.bts.gov/view/dot/25410/dot_25410_DS1.pdf
File Type:

[PDF - 1.01 MB]
Collection(s):

US Transportation Collection
Main Document Checksum:

urn:sha-512:79404c7a8fcd358d335972d4b7182be6b5d5dfb14012c084fe7b245380adb9b0c0facdc9ea64492a8448013e5c1f2bd12edf87ebe3dff52b53a439434a59cfb1

File Language:

English

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