Abstract
This chapter presents a model of a metropolitan economy. It presents the complete description of an econometric model of the Boston metropolitan area, developed over a 5 year period at MIT. The macro model treats the Boston area as a single region without any geographical distinction. The objective is to obtain models that can estimate the effects of various policies available to the local administrators or the effects of external forces beyond their control. For a model to be useful for this type of policy analysis, it must be a reasonable approximation to the true structural relationships that govern the economy. It must also mirror historical behavior; but, unlike a forecasting model, this is not the main criterion for model adequacy.
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