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Understanding Economic Shocks Using the FAI HEM Model for Northern Ireland

The impact of businesses extends to more than just the products they create and the turnover they generate. Businesses have complex supply chains that stretch across the whole of Northern Ireland’s economy and beyond.

When businesses face sharp falls in demand, these complex supply chains make it difficult to understand the true impact on output and employment across Northern Ireland. However, three types of models are well suited to understanding supply chain shocks, each useful in different circumstances.

This report looks at one of these – the Fraser of Allander Institute Hypothetical Extraction Method Model for Northern Ireland (or FAI HEM for Northern Ireland).