The Connecticut Center for Economic Analysis (CCEA), established in 1992, serves
the people of Connecticut by improving their understanding of the state's economy -- past, present, and future.
The Center focuses on providing timely information and reliable analyses about Connecticut's
economy. By mobilizing and directing the expertise available at the University of Connecticut,
state agencies and entities, and the private sector, CCEA equips the public and
decision makers with the foundation for systematic, thoughtful debate of public-policy issues.
The Center takes a long-term, strategic view of economic forces, and is objective and transparent in its execution and delivery.
CCEA has three prncipal areas of responsibility:
- To compile data required to monitor and forecast economic developments
in Connecticut
- To maintain models of the State's economy, which the Center uses to conduct
empirical analyses for State, municipal, and private groups, through its
Policy and Analysis Group; and
- To promote economic and financial literacy, through the research, publication and outreach of its
Connecticut Center for Economic Education.
Policy and Analysis
The Policy and Analysis Group develops critical economic indicators
that track the state’s economic performance, maintains several regional
economic models with which it performs economic impact analyses, and provides a
breadth of statistical expertise and policy assessments:
Quarterly
forecasts of both state employment and gross state product (GSP)
CCEA developed its own
Bayesian Vector Autoregression (BVAR) forecasting models for employment and
GSP, and has done in-sample tests for historical validity. Begun in the
third quarter of 1998, CCEA releases quarterly forecasts, from this website.
CCEA
has developed strong research capabilities in economic impact analysis and
policy assessment.
CCEA maintains state and county-level economic models (REMI and IMPLAN
for Economic Impact Analysis. The Center has provided assessments for a
variety of public and private clients on the long-term economic impact
(dynamically over periods as long as thirty years) of infrastructure
investments, expansion of cultural amenities, and economic incentive packages.
CCEA has developed Dynamic Tax Analysis to assess the impacts of changes in
the state income tax structure; analyzes the effects of Property Tax
Revaluation and its impact on local economies.
CCEA has developed Benchmarking techniques for regional/metro and statewide
manufacturing performance as a mechanism to help in policy formulation.
Buildout Analyses: CCEA has developed
the capability of translating developable acreage into various development
scenarios, including analysis of primary, secondary and tertiary employment,
income, fiscal, and demographic impacts. This permits planning regions and local
governments to evaluate the "carrying-capacity" of their area, and
thus helps shape development planning. CCEA can link these development scenarios
to utilization and congestion issues for the transportation infrastructure,
analysis that facilitates holistic planning.
Please refer to the CCEA Studies page, where our most recent
reports are featured at the top of the page.
Webpage updated June 14, 2012
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