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R
Reclassification. An adjustment
made to the input-output (I-O) accounts
when there are two or more industries whose primary activity is the production
of similar commodities and the commodities differ only in the process
used to produced them. The output of one commodity is moved (“reclassified”)
to be part of the output of the other, similar commodity. Total output
for the affected industry remains unchanged; however, output for each
affected commodity group changes.
Redefinition. An adjustment
made to the input-output (I-O) accounts
when a secondary product
is assumed to have very different inputs than the other products of the
producing industry. The secondary product (output and inputs) is moved
(“redefined”) to the industry to which the product is primary.
The adjustment is necessary to attain a homogenous input structure for
the commodities produced by an I-O industry.
Reinvested earnings (direct
investment). A parent company’s claim on the current-period undistributed after-tax earnings of its affiliates. Related terms:
direct investment capital flows.
Rental income
of persons with capital consumption adjustment. Earnings from
the rental of real property by persons
who are not primarily engaged in the real estate business. It also includes
the imputed net rental income of owner-occupants and the royalties received
by persons from patents, copyrights, and rights to natural resources.
Residential fixed investment. Consists
of purchases of private residential structures and residential equipment
that is owned by landlords and rented to tenants. Related terms:
residential structures, fixed
investment.
Residential structures. Investment
in residential structures consists of new construction of permanent-site
single-family and multi-family units, improvements (additions, alterations,
and major structural replacements) to housing units, expenditures on manufactured
homes, brokers’commissions on the sale of residential property,
and net purchases of used structures from government agencies. Residential
structures also include some types of equipment that are built into residential
structures, such as heating and air-conditioning equipment. Related
terms: residential fixed investment, fixed
investment.
RIMS II multipliers. Estimates of
regional input-output multipliers for any state, county, or combination
of states or counties. The multipliers estimate the impact from changes
in final demand on one or more
regional industries in terms of output, employment, and labor earnings.
The multipliers are based on estimates of local
area personal income and on the national input-output
(I-O) accounts.
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