Originally built in 1977, the Washington Projection and Simulation Model (WPSM) is a regional interindustry econometric model designed for forecasting and impact analysis. This article describes the most recent formulation of WPSM, analyzes the accuracy of the long-range forecasts prepared with...

This textbook offers an introduction to empirical regional economics, including a comprehensive and systematic overview of the fundamentals, history, development, and applications of economic base models. It not only provides a sound basis for regional economics and regional economic analysis,...