Consulting: Forecasts and Research Applied to User Needs
To keep users abreast of our forecasts and developments with our model, Inforum holds an Outlook Conference each year, usually in November. We report on the economic outlook, on industrial impacts of current developments -- such as tax reforms, changing exchange rates or oil prices -- and on new features in our models. Users often present their applications to the group.
Seminars can be conducted at any desired location, to discuss forecasts, applications, and other topics. Workshops can combine applications with the use of our software.
Policy Analysis
The Inforum model is a dynamic model that integrates industry relationships within the macroeconomy. This makes it ideal for the study of many types of policy questions, of interest to businesses, trade associations and government. Some examples include:
- What effect will reduced military spending have on employment and prices for certain industries?
- How will changes in immigration policies affect employment growth in the U.S. ?
- How will changes in Social Security and Medicare policies affect labor costs in the manufacturing sector?
- How will a repeal of the gasoline tax affect industries?
- What are the employment and output effects by industry stemming from the imposition of trade barriers on a certain good?
These questions are all examples of concern about the industrial impacts of macroeconomic developments. Many economists would use input-output analysis in some form and at some stage to answer these questions. The "top down" approach is to use an aggregate macroeconomic model to find the macroeconomic effects and then turn to input-output analysis to spell out the industrial consequences. In this approach, what happens at the industry level never affects the macro totals. Inforum uses a "bottom up" approach which is to build an integrated model which puts the input-output information and macroeconomic relationships into one model, so that the industry effects are built into the macro results. Inforum's LIFT model is uniquely qualified to answer policy questions in the following areas.
- Defense
- Health
- International
- Energy
The needs of a user often go beyond a standard forecast and require special studies drawing on Inforum's strengths. Some recent studies include:
U.S. Impact Studies, and Studies Relating to Particular Industries
The Economic Costs of Disruptions in Container Shipments
Local Impacts of Electricity Industry Restructuring
The Asian Crisis and the U.S. Economy
U.S. Jobs Supported by Exports
The Impact of Foreign Trade on the Demand for Electricity: 1977-2010
Demand Side Management in the Broader Economy: The Economic Impacts of Utility Efficiency Programs
Forecasting the Demand for Copper Scrap Using an Input-Output Model
Policy Studies and Tools
Macroeconomic and Industrial Effects Of Higher Oil and Natural Gas Prices
Macroeconomic and Industry Impacts of Currency Valuation: A Global Modeling Analysis
Health Care Spending and the Rest of the Economy: A Short Look at the Long Term
Health Care Prices, The Federal Budget, and Economic Growth
LIFT 2050: A Framework for Making Very Long-Term Economic Projections, with Illustrations
International Studies
The Impact of Defense "Offsets" in Hungary
The Impact of Deregulation on the Japanese Economy
Jobs and Production Requirements Needed for Exports of the G-7 Countries and EU 12