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Abstract
This paper describes a framework for analyzing housing as it relates to a regional economy. The framework is represented by a large scale, in put-out put based simulation mode/ developed at the University of Minnesota, St. Paul. A housing component to that model was recently added and is described in this paper. This paper also views input-output and simulation as techniques for analysis. It highlights the advantages of such approaches to housing research and provides a sample simulation run to demonstrate the model. The model looks at population change over time through the use of a population module. The population module relates such change to the economic performance of the economy taken from the system’s production module. The simulated change in population is then related to the changing demand for housing structures given existing demand and parameter values out of the housing module. Various assumptions concerning the economy’s performance are made with simulated changes in housing demand as the output.
Additional information
Notes on contributors
Barbara A. Flannery
Barbara A. Flannery is Associate Professor, Housing and Home Furnishings, Child and Family Development Department, University of Minnesota, Duluth, Minnesota.
Richard W. Lichty
Richard W. Lichty is Professor, Department of Economics, University of Minnesota, Duluth, Minnesota. Funding for this project was provided by the University of Minnesota Center for Urban and Regional Affairs (CURA).