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Econometric Modeling

Statistical models can characterize relationships among aspects of economic behavior, and comprehensive econometric models are often used to guide public policy decisions. Several RAND researchers are skilled in the use of econometric models and use them to help explain how economic and political decisions may affect, for instance, military purchasing, agricultural production, and vehicle ownership patterns.

Journal Article

Optimal Allocation of Seats in the Presence of Peer Effects: Evidence from a Job Training Program

We model optimal treatment assignment in programs with a limited number of seats and study how the presence of peer effects impact the optimal allocation rule and us data from an RCT to show there are peer effects in the job training context.

Mar 29, 2022
News Release

Greater Adoption of Telemedicine Could Reap Benefits for the Canadian Economy of Nearly 6 Billion CAD Annually

Increasing the use of telemedicine in Canada through teleconsultations between patients and their primary care provider could lead to benefits for patients, society, and the economy. The economic value of time saved, through fewer hours spent on traveling to appointments and waiting, could be up to 5 billion CAD alone each year.

Dec 6, 2021
Research Brief

Greater adoption of telemedicine could offer economic and social benefits for Canada

This brief summarises the potential impact of increased, long-term telemedicine use in Canada. It was found that teleconsultations could boost the economy in terms of cost savings from fewer missed appointments and visits to emergency departments, and a reduction in travel times for patients.

Dec 6, 2021
Report

The potential socio-economic impact of telemedicine in Canada

This study examined the potential impact in Canada of continued, long-term use of telemedicine. Researchers found that widespread use of teleconsultations could lead to significant benefits for patients, the economy and wider society.

Dec 6, 2021
Report

Cost-Benefit Analysis of Special and Incentive Pays for Career Enlisted Aviators

The authors develop a capability to calculate the efficient amount of special and incentive pays for Air Force career enlisted aviators (CEAs). They also estimate the trade-offs between retaining CEAs and increasing accessions for a given force size.

Jan 7, 2021
Research Brief

The economic benefits of equitable global access to COVID-19 vaccines

Researchers used a global macroeconomic model to examine the economic effects of vaccine nationalism. This brief highlights the cost to 30 high-income countries if low and middle-income countries miss out on initial access to COVID-19 vaccines.

Dec 17, 2020
Research Brief

Unequal Access to COVID-19 Vaccines Would Further Damage the Global Economy

As long as the coronavirus is not under control in all regions of the world there will continue to be a global economic cost associated with COVID-19. Vaccine nationalism could cost up to $1.2 trillion a year in GDP. If the poorest countries cannot access vaccines, the loss would be between $60 and $340 billion a year.

Nov 5, 2020
Report

COVID-19 'Vaccine Nationalism' Could Cost $1.2 Trillion a Year

Nationalistic behavior by governments may exclude some countries from access to COVID-19 vaccines. This could cost the world economy up to $1.2 trillion a year in GDP. A globally coordinated effort to fight the pandemic is key, not only from a public health perspective but also an economic one.

Oct 28, 2020
Report

Modeling Career Enlisted Aviator Retention in the U.S. Air Force

The career trajectories and retention profiles of certain U.S. Air Force career enlisted aviators (CEAs) vary across the different Air Force Specialty Codes. Is there a model that would estimate CEA retention?

Aug 5, 2020
Commentary

The Costs of Brexit Uncertainty

It may be tempting to think that Brexit is now done. But the UK's formal departure from the EU in late January was only the end of the beginning. And uncertainty is likely to affect the UK's economic performance moving forward.

Mar 3, 2020
Commentary

Belt and Road: Economic Gain Is Possible for All

China's true motivations for its Belt and Road Initiative may still be unclear. But the West could consider the initiative's potential to deliver sustained economic, social, and environmental benefits for all, and find ways to support infrastructure improvements in the countries involved.

Jan 30, 2020
Report

Further Trade Uncertainty Due to Brexit Could Cost UK Billions

The UK's official departure from the EU only ends the first phase of trade uncertainty related to Brexit. Costs to the UK economy are likely to continue during the UK–EU renegotiation period and will increase over time. By the end of 2020, UK GDP could decrease by $5.5 billion (£4.4bn).

Jan 28, 2020
Multimedia

What Are the Potential Economic Implications of Prolonged UK–EU Trade Policy Uncertainty?

In this Call with the Experts podcast, RAND researchers discuss the potential economic implications of prolonged trade policy uncertainty associated with the renegotiation period between the UK and EU after Brexit.

Jan 24, 2020
Journal Article

Learning Versus Stealing: How Important Are Market-Share Reallocations to India's Productivity Growth?

Our findings, which suggest that "learning" is more important than "stealing" over the 1985 through 2004 period, are consistent with the most recent literature on heterogeneous firms.

Sep 19, 2018
Research Brief

China Belt and Road Initiative: How revival of the silk road could impact world trade

By using both qualitative and quantitative analysis, this study found improving transportation multimodal connectivity has a positive impact on multilateral trade across countries and regions along China Belt and Road Initiative.

Aug 21, 2018
Report

China Belt and Road Initiative: Measuring the impact of improving transportation connectivity on trade in the region

Using both qualitative and quantitative analysis, this study found improving transportation multimodal connectivity has a positive impact on multilateral trade across countries and regions along China Belt and Road Initiative.

Aug 21, 2018
Journal Article

Individual Survival Curves Comparing Subjective and Observed Mortality Risks

Data on Health and Retirement study respondents' expected life span and actual mortality shows that some demographic groups tend to be overly pessimistic about how long they'll live, which could lead to under-saving for retirement.

Mar 13, 2018
Commentary

Why the EU Single Market Has Still Not Reached Its Full Potential

The EU Single Market aimed to promote intra-European trade, increase competition, create more jobs and make Europe more attractive to foreign direct investment. The economic benefits of the Single Market are clear, but closer integration requires political buy-in from individual member states and the EU.

Nov 8, 2017
Content

Economics and Econometrics Capabilities at RAND Europe

RAND Europe employs more than a dozen distinguished economists who support research projects across all sectors and topic areas, using a range of economic and econometric methods.

Oct 17, 2016
Commentary

Corruption Costs Europe Up to €990 Billion Per Year

Corruption costs Europe up to €990 billion in GDP annually, according to a new study. That's more than eight times previous estimates.

Mar 22, 2016

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RAND Topic:
Econometric Models

Topic Synonyms:
Econometric Modeling