Rey, Sergio J.; West, Guy R.; Janikas, Mark V. - EconWPA - 2004
This paper examines the nature of uncertainty in integrated econometric+input-output (ECIO) regional models. We focus … on three sources of uncertainty: [a] econometric model parameter uncertainty; [b] econometric disturbance term … uncertainty; and [c] input-output coefficient uncertainty. Through a series of Monte Carlo simulations we analyze the relative …