11th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 4-5, 2010

Size: px
Start display at page:

Download "11th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 4-5, 2010"

Transcription

1 11th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 4-5, 2010 INPUT-OUTPUT MULTIPLIER ANALYSIS FOR MAJOR INDUSTRIES IN THE PHILIPPINES by Madeline B. Dumaua For additional information, please contact: Author s name Madeline B. Dumaua Designation Statistician III Affiliation Statistical Research and Training Center Address Quezon City Tel. no mbdumaua@srtc.gov.ph

2 INPUT-OUTPUT MULTIPLIER ANALYSIS FOR MAJOR INDUSTRIES IN THE PHILIPPINES 1 by Madeline B. Dumaua 2 ABSTRACT The study aims to assess the impact of the different major industries of the Philippines using Input-Output Multiplier Analysis. It attempts to do this by using the 2000 Input-Output Accounts of the Philippines (I-O Accounts), the most recently published tables by the National Statistical Coordination Board (NSCB). As the economic importance of the 11 major industries is growing among the policy makers and researchers, this study applied input-output technique in determining economic effects to gauge the significance of these industries in generating output, income and employment. Key sectors are identified in term of multipliers; the higher the multiplier, the stronger is the ability of the corresponding sector to create multiple impacts in the economy. The obtained multipliers showed that among major industries, the Manufacturing Industry showed the highest final demand-to-output multiplier; the Construction Industry gained the highest output-to-output multiplier; and Private Services Industry is found to have the highest income and employment multipliers. KEY WORDS: Input-output, Multiplier 1. Introduction Sectors of an economy are naturally interdependent. An input stimulates production in a sector directly, but it may also stimulate production in other sectors as well, where the intensity can be downgraded. The residual effect of an input beyond the intended sector is called multiplier that describes interrelationships among sectors of the economy. The multiplier effect provides a quantification of the direct and indirect effect on growth of the sector, possibly measured in terms of production output. Different economic multipliers like those for output, income, and employment can be used to determine economic effect for an industry. The Leontieff model or the Input-Output model can be used to track the complex web of production linkages among industries in the country within the framework of interdependencies. This study will assess the impact of the different sectors of the economy in terms of output, income and employment. Thus, Input-Output multiplier analysis was performed to determine the effect of the different major industry groups. 2. Objectives of the Study The study aimed to measure the economic effects of the major industry groups using Input-Output Multiplier Analysis. Specifically, the study intended to: 1. measure the multiplier effect of changes in final demand on the output of individual industries and the whole economy (Final Demand-to-Output Impact Multiplier) 1 One of the in-house research undertakings of the Research and Information Technology Division (RITD) of the Statistical Research and Training Center (SRTC) of the National Economic and Development Authority (NEDA) 2 Statistician III, Research and Information Technology Division (RITD) of the Statistical Research and Training Center (SRTC) of the National Economic and Development Authority (NEDA) 1

3 2. determine the impact of changes in each industry s output on the total output (Outputto-Output Impact Multiplier) 3. find out the impact of changes in each industry s output on household income (Household Income Multiplier) 4. determine the impact changes of output in an industry on employment (Employment Multiplier) 3. Significance of the Study In economics, the multiplier effect refers to the idea that the initial amount of money invested by government leads to an even greater increase in national income. In other words, an initial change in aggregate demand causes a change in aggregate output of the economy that is multiple of the initial. This measures the degree to which various businesses and households in an economy are interrelated. This measure the impact of a given external change, such as new investment, export expansion, start up of a new businesses, on total economic activity in a given community or country, through the respending of new dollars within that economy. The multiplier has been used to justify government spending or taxation relief that will stimulate aggregate demand. Many governments consider spending/tax break as instruments to stimulate aggregate demand. This is usually implemented during a period of recession or economic uncertainty. The money invested by a government is believed to create more jobs, which in turn will mean more spending that further fuel activities in various sectors of the economy. The idea is that the net increase in disposable income by different stakeholders throughout the economy will be greater than the original investment. As this happens, government can increase the gross domestic product by an amount that is greater than an increase in the amount it spends relative to the amount it collects in taxes. Multiplier focuses on the relationship between spending and consumption. It is also referred as expenditure multiplier. The concept holds that a spending, whether initiated by the government, corporations or households, will trigger the national income. Expenditure multiplier does not differentiate between consumption and investment spending. Examples of multipliers include I-O multipliers which are derived from I-O tables and show the impact of spending in certain industry on various economic variable including GDP, employment, output and wages and salaries, etc. 4. Limitations of the Study The paper makes use of the 2000 Input-Output tables from the National Statistical Coordination Board (NSCB). It only uses I-O multiplier analysis in estimating multipliers. While I-O multipliers can be a rich source of information, they also have some limitations. These include: I-O models treat all inputs as complements and exclude substitutes implying that increases in the demand for one input will only lead to demand increases for other inputs. The I-O model does not consider price-adjusting behavior or substitution effects. Because the model is entirely open, there is no scarcity of resources. The economy is assumed to have limitless amounts of all the inputs it requires. 2

4 I-O models produce a snapshot of the economy at a given point in time. Structural changes in the economy over time will reduce the validity of results produced by I-O models. Analysis based on I-O models does not explicitly consider alternatives and tends to show only benefits of expenditures while ignoring costs. The impacts considered through the I-O model are short-term and at the margin: there is no consideration of whether the economy has the capacity to incorporate the changes and whether changes in production are sustainable or cost competitive. Given these limitations, I-O multipliers can still provide a useful, but rough, initial indication of the economic impact of changes in spending in different industries. 5. Data and Methodology This study was primarily carried out based on the 2000 Input-Output Accounts of the Philippines (I-O Accounts), the most recently published tables by the National Statistical Coordination Board (NSCB). In order to assess the economic effect of all major industries in the whole economy, the Input-Output Multiplier Analysis was used. The major industry groups used in the study include the following: For the employment multiplier analysis, data for the total number of persons employed in each industry was taken from the 2000 Census of Philippine Business and Industry (CPBI) of the National Statistics Office (NSO) while data for the Gross Value-Added (GVA) was taken from 2000 Economic Accounts of the NSCB. Table 1. Major Industry Groups Code Major Industry Groups 01 Agriculture, Fishery and Forestry 02 Mining and Quarrying 03 Manufacturing 04 Construction 05 Electricity, Gas and Water 06 Transportation, Storage and Communication 07 Wholesale and Retail Trade 08 Finance 09 Real Estate 10 Private Services 11 Government Services 5.1 Computation of Final Demand-to-Output Multiplier The step by step procedure in generating Final Demand-to-Output multiplier analysis is described below: 1. Get the column elements of the inverse matrix for all major industries. 2. Multiply the column elements by the impact variable to get the specific impact on each industry. 3. Get the total of the column elements of the inverse matrix for all major industries. 4. Multiply the total column elements by the impact variable to get the impact on the entire economy. 3

5 5.2 Output-to-Output Multiplier The step by step procedure in generating Output-to-Output multiplier analysis is described below: 1. Obtain the IO inverse matrix for all major industries. 2. Divide each column by its diagonal element. 3. Get the column sums of the output-to-output inverse matrix. 4. The column sums are the output-to-output multipliers for each industry Household Income Multiplier The step by step procedure in generating Household Income multiplier analysis is described below: 1. Get the household income coefficients of all the major industries in the economy by dividing the compensation of employees by the total input of the corresponding industry. 2. Multiply the column elements of the inverse matrix of all major industries by all the household income coefficients. 3. Add all the products to get the household income multiplier. 5.4 Employment Multiplier The step by step procedure in generating employment multiplier analysis is described below: 1. Get employment coefficients of all industries in the economy by calculating the employment in each industry and dividing it by gross value-added (GVA). Data for the total number of persons employed in each industry was taken from the 2000 Census of Philippine Business and Industry (CPBI) of the National Statistics Office (NSO). Data for GVA was taken from 2000 Economic Accounts of the NSCB. 2. After getting the employment coefficients, get the employment multiplier. Employment multiplier is computed by multiplying employment coefficient with inverse matrix. This gives the individual effects of construction for each industry. If we sum up the multipliers, this somehow gives an effect of the construction industry in the economy. 3. In doing simulation, i.e., government increases construction output by One (1) Billion, multiply the 1billion increase to each employment multiplier where the result will provide possible additional jobs in every industry creating a corresponding effect in the whole. 4. These multipliers are additional jobs aside from the existing employment in the construction. In other words, the multiplier analysis assumes that from start to finish, these additional employments were generated already, or in place. The IO multiplier analysis cannot determine whether these additional jobs happened before, during or after the construction stages. 6. Results and Discussion 6.1 Summary of Multipliers Following the computation procedure presented above, the I-O multipliers were estimated for output, income and employment in the Philippine economy. An I-O model has the ability to identify the important sectors of an economy at a national (or even at a regional level). Key sectors are identified in term of multipliers; the higher the multiplier, the 4

6 stronger is the ability of the corresponding sector to create multiple impacts in the economy. The sectoral multipliers are used in the impact analysis to estimate the impacts for policy change in all 11 sectors, see Table 2 for details. Among the 11 major industries, the Manufacturing Industry yields the largest finaldemand to output multiplier of The Construction Industry and the Transportation, Communication and Storage Industry constitute the second and third most important output generating industries with both multipliers of around 1.93, respectively. However, output-to-output multiplier shows that the Construction Industry yields the highest multiplier of 1.92, which means that a one-peso change in the output of the Construction Industry generates a 1.92 pesos worth of additional output in the economy. This is followed by Transportation, Communication and Storage and the Private Services, with multipliers of 1.85 and 1.70, respectively. Output-to-output multipliers can be used to measure the impact of a change in output in a particular industry on the output of the whole economy. The Private Services Industry is the most important income generating sector with the highest income multiplier of The second most important sector is the Construction Industry in terms of income generation which is holding an income multiplier of The Agriculture, Fishery and Forestry ranks third among the income generating industries with an income multiplier of

7 Table 2. Summary of the Multipliers: Final Demand-to-Output, Output-to-Output, Household Income, and Employment. Industry Description Final Output- Household Total Demand- Output Income Employment Output Multipliers Multiplier Multipliers Multipliers Agriculture, Fishery and Forestry Mining and Quarrying Manufacturing Construction Electricity, Gas and Water Transportation, Communication and Storage Trade Finance Real Estate Private Services Government Services

8 The number of employment generated for a given unit of expenditure/output can be estimated by employment multiplier. The result shows that the Private Services Industry has the highest employment multiplier of 6x10-6. The second highest important sector in generating employment is the Trade (Wholesale and Retail) Industry with a multiplier of 6x10-5 followed by the Manufacturing and Real Estate Industries with both employment multipliers of around 6x Final Demand-to-Output Multiplier Effect The final demand-to-output multiplier is used to measure the impact of a change in final demand on the output of individual industries and the whole economy. This tells us about the additional output generated in each industry given an impact increase in the investment in each industry (impact variable). Table 3 shows the impact of a 100 million peso increase the investments in the 11 major industries. Results showed that this spending has the greatest impact in the Manufacturing Industry with an additional generated output of 215 million pesos. This is followed by the Construction Industry and the Transportation, Communication and Storage Industry with both an additional output of approximately 193 million pesos. 7

9 Table 3. Final Demand-to-Output Multiplier Effect for a 100 Million Investment. Industry Output Multipliers Impact Agriculture, Fishery and Forestry ,669,300 Mining and Quarrying ,276,800 Manufacturing ,296,400 Construction ,768,100 Electricity, Gas and Water ,744,900 Transportation, Communication and Storage ,763,400 Trade ,884,900 Finance ,463,600 Real Estate ,730,800 Private Services ,923,800 Government Services ,362,800 8

10 Table 4 shows the inverse matrices of the 11 major industries, which is the direct and indirect effect of a one-peso change in final demand for a particular industry on the output of other industries and the economy as a whole. The sums of column elements of the inverse matrix for the 11 industries are called final demand-tooutput multipliers. The Manufacturing Industry yields the largest output multiplier of 2.15 among the 11 major industries. Of its 2.15 multiplier, the additional output generated in the Manufacturing itself for a peso change in the final demand for Manufacturing Industry is 1.60; an additional output of 0.19 in the Agriculture, Fishery and Forestry Industry; and an additional generated output of 0.13 in the Trade Industry. The Construction Sector, which constitutes the second most important output generating industry, has a multiplier of This shows that a peso change in the final demand for the Construction Industry generates 1.93 pesos worth of additional or incremental output in the economy. Moreover, of this total multiplier, a peso change in the final demand for the Construction Industry generates an additional output of 1.00, 0.53 and 0.10 in the Construction, Manufacturing and in the Transportation, Communication and Storage industries, respectively. 9

11 Table 4. Final Demand-to-Output Impact Multipliers Code Total Source: Input-Output Accounts of the Philippines 2000, NSCB. 10

12 6.3 Output-to-Output Multiplier Effect In many instances, the impact on the economy comes from a change in output instead of a change in final demand. In this case, an output-to-output multiplier analysis is required. This gives us information that a one-peso or one-unit change in the industry s output will generate pesos worth of additional/incremental output in the economy. Table 5 shows the individual and total effects of a one-peso change in the output of a particular industry. Out of the 1.92 multiplier for the Construction, the Construction, Manufacturing and the Transportation, Communication and Storage industries generated additional outputs of 1.0, 0.53, and 0.10 respectively, for every peso change in the Construction output. 11

13 Table 5. Output-to-Output Impact Multipliers Code Total

14 6.4 Household Income Multiplier Effect Moreover, changes in an industry s output can impact on household income. To quantitavely determine the impact of changes in each industry s output on household income, a household income multiplier analysis is needed. This tells us about the additional household income in the whole economy due to a one-peso or one-unit change in final demand for each industry. Table 6 shows the individual and total effect of a one-peso change in the final demand for each major industry. Private Services Industry is found to be the most important income generating sector with the highest income multiplier of This means that a peso increase in final demand of private services implies an increase in household income by For individual effects, additional household income of 0.29, 0.02 and 0.04 are generated in the Private Services itself, Manufacturing, and the Agriculture, Fishery and Forestry respectively, due to a one-peso change in the final demand for Private Services. 13

15 Table 6. Household Income Multipliers. Code Total

16 6.5 Employment Multiplier Effect Changes in every industry s output can impact on employment. To quantitavely determine the impact changes of output in an industry on employment, an employment multiplier analysis is done. This shows us the additional/incremental employment in the whole economy due to a one-peso or one-unit change in each industry s output. Given a 100 Billion peso increase in the investment, the number of additional employment generated can be estimated by employment multiplier. The result shows that the Private Services Industry has the highest employment multiplier effect of 572, 637 additional employment in the whole economy due to a 100 billion change in the final demand for Private Services. The second highest important sector in generating employment is the Trade (Wholesale and Retail) Industry with a multiplier effect of 504, 821 followed by the Manufacturing Industry with additional employment of 430,

17 Table 7. Employment Multiplier Effect Due to a 100 Billion Investment. Code ,541 1,467 6,261 2, ,348 1,867 1, ,929 1, ,108 84,309 6,860 4,500 7,096 2,544 1,904 1, ,328 1, ,498 73, , ,236 50, ,156 66,894 50,283 14, ,767 51, , , , ,553 6,039 3,736 1,761 90,508 1,963 1,392 2, ,099 1, ,758 4,036 4,826 16,463 3, ,656 19,014 10,460 1,285 4,540 4, ,921 14,338 49,800 21,946 15,979 22, ,519 8,993 2,853 20,014 9, ,324 4,542 3,639 4,983 1,509 7,402 7, ,811 5,981 5,937 6, ,420 1,401 3, ,273 3,239 12, ,644 4,103 3, ,651 37,294 11,878 17,058 15,192 25,898 14,308 73,234 17, ,823 30, Total 115, , , , , , , , , , ,325 16

18 7. Conclusion and Recommendation This paper quantified the multipliers of the 11 major industries for the Philippine economy using input-output technique. As the economic importance of the 11 major industries is growing among the policy makers and researchers, this study applied input-output technique to determine multipliers that will measure the significance of these industries in generating output, income and employment. The obtained multipliers showed that among major industries, the Manufacturing Industry showed the highest output multiplier; Construction Industry yielded the highest output-to-output multiplier; and Private Services Industry is found to have the highest income and employment multipliers. The results of the study will still have to be evaluated when the NSCB will release the latest I-O table. 8. Future Directions Since the study utilized a competitive type of I-O table wherein each cell element does not explicitly distinguish the domesticallyproduced from the imported, the study is bound to construct a noncompetitive or domestic type of IO table wherein the import content of each I-O transaction is netted out. After which, the Leontief inverse matrix will be re-estimated which will be used to calculate domestic multipliers for the major industries. This is important in order to be able to quantify correctly the impact of final demand on the various economic variables. 9. Appendices 9.1 Input-Output Analysis There are a number of methodologies developed to determine the multipliers. The most widely used approach is the input-output technique. The major strength of the input-output analysis is that it provides detailed information on the direct and indirect effects of spending on all economic measures for different industries in the 17

19 local economy (Loomis and Walsh, 1997). Therefore, in order to satisfy the aforementioned objectives, the methodology employed in this paper in based on Leontief input-output techniques where structure of an economy is analyzed in terms of inter-relationships between economic sectors (e.g. Miller and Blair, 1985). The inputoutput technique of a particular economy represents the flow of goods and services among its different industries for a particular time period. In the framework of the input-output technique, the relationships between economic sectors can be described in a system of linear equations where total output produced by each sector is either consumed as an intermediate input by other sector, or, sometimes internally by the producing sector itself, or, by the final demand sector, or both. The presentation of the flow of goods and services could be expressed either by physical units or in money terms. To define, let there be an economy with n-producing sectors and a final demand sector. Total output of sector i will be: Supply = Demand n Q i = qij + Fi j=1 (1) where Q = gross output of industry i; i F i qij = the sales of industry i to industry j; = the final demand vector; i = 1,, n. a ij Let be the technical (input) coefficient which represents the amount (value) of sector i s output needed to produce one unit (one peso) of sector j s output; thus using the assumption of constant production coefficient, we get: q ij a ij = or Q ij aijq j i q = This means that the total value of purchases of goods and services by sector j from sector i is a. ijq j Therefore, for a given target of final demand on goods and services, F, this relation defines how much each producing industry must produce in order to satisfy a particular bundle of final demand on goods and services, i.e., Equation (1) in reduced matrix form can be written as: 18

20 Q = AQ + F Solving the Equation (2) can be found as: (2) (3) Q = [ I A] F In equation (3), Q is the output vector; I is an identity matrix [ ] and I A is the total requirement matrix or mostly known as Leontief inverse matrix. The general solution of Equation (3) determines how much each industry of the economy must produce in order to satisfy a I A should be a given level of final demand. It is mandatory that [ ] non-singular matrix meaning that the determinant of [ I A] does not equal to zero to have a unique solution in the form of[ I A]. When the Leontief inverse matrix is assumed to be [ I A] = Z, then s stand for the elements of the Leontief inverse matrix. Each element of the Leontief inverse matrix shows the direct and indirect requirements of output sector i per unit of final demand. 9.2 Output Multiplier The final demand-to-output multiplier is used to measure the impact of a change in final demand on the output of individual industries and the whole economy. This will tell us about the additional output generated in each industry given an impact increase in the investment in each industry (impact variable). An output multiplier for sector j is defined as the total value of production in all sectors of the economy that is necessary in order to satisfy a peso s worth of final demand for sector j s output. For the simple output multiplier, this total production is the direct and indirect output effect, obtained from a model in which households are exogenous. The initial output effect on the economy is defined to be simply the initial peso s worth of sector j output needed to satisfy the additional final demand. Then formally, the output multiplier is the ratio of the direct and indirect effect to the initial effect alone. z ij 19

21 The output multiplier measures the sum of direct and indirect output requirements from all sectors needed to deliver one additional peso of output of i industry to final demand. It is derived by summing the s or the entries in the column under industry i in the Leontief z ij inverse matrix tables. Although the output multiplier represents total requirements per unit of final output, it is not particularly useful concept except as indicator of the degree of structural interdependence between each sector and the rest of the economy. In economic impact studies we are more usually concerned with income or employment generating effects, and these require income or employment multipliers. 9.3 Income Multiplier Changes in an industry s output can impact on household income. To quantitatively determine the impact of changes in each industry s output on household income, a household income multiplier analysis is needed. This tells us about the additional household income in the whole economy due to a one-peso or one-unit change in final demand for each industry. The income multiplier is obtained by multiplying the row vector of income coefficients, say e with the s, which are entries in the column under industry i in the Leontief inverse matrix tables. Row vector of income coefficients or e are referred to as salaries and wages (compensation) for each industry divided by the corresponding output. This gives us the following equation for income multiplier: z ij [ I ] 1 I = e A (4) 9.4 Employment Multiplier Impact analyses are frequently preoccupied with employmentcreating effects of industrial expansion, because policymakers may be primarily and legitimately concerned in forecasting jobs in a particular area. For this reason, it is often useful to be able to derive not only income multipliers from an I-O model, but as well as employment multipliers. 20

22 The following method was used to estimate employment multipliers. The employment coefficients, l, defined as employment per million pesos of outputs, was multiplied by the s, which are entries in the column under industry i in the Leontief inverse matrix tables, in order to obtain the multiplier. Mathematically, employment multi z ij plier is expressed as follows: 10. References [ I ] 1 L = l A (5) Miller, Ronald E. and Blair, Peter D. Input-Output Analysis: Foundations and Extensions. Englewoods Cliffs, N.J. Prentice Hall Thijs Ten Raa. The Economics of Input-Output Analysis. Cambridge University Press National Statistical Coordination Board. The 2000 Input-Output Accounts of the Philippines. Economics Statistics Office National Statistics Office Census of Philippine Business and Industry. Presentation Material of Dr. Cid L. Terosa, UA&P Professor. 21

A Multiplier and Linkage Analysis :

A Multiplier and Linkage Analysis : A Multiplier and Linkage Analysis : Case of Algeria - 287 Dr. MATALLAH Kheir Eddine* Abstract The development strategy for the Algerian economy in the 1980s and 1990s was based on the establishment of

More information

Ministry of Economic Development

Ministry of Economic Development Ministry of Economic Development Department of Communications Contribution of ICT to economic growth in Italy: Input Output analysis DEPARTMENT OF COMMUNICATIONS Relatore: n Claudio Di Carlo claudio.dicarlo@sviluppoeconomico.gov.it

More information

Tourism s. 1997 98 to 2011 12. Tourism s. Economy

Tourism s. 1997 98 to 2011 12. Tourism s. Economy Tourism s Contribution to the Australian Economy 1997 98 to 2011 12 Tourism s Contribution to the Australian Economy Authors: Jai Kookana and Tien Duc Pham ISBN 978-1-922106-91-9 (PDF) 978-1-922106-92-6

More information

Regional Economic Impact Analysis

Regional Economic Impact Analysis Section III: Applying Knowledge Regional Economic Impact Analysis Summary In this activity, teachers present a lecture related to assessing regional economic impacts and students use this knowledge to

More information

The impact on the UK economy of a reduction in fuel duty

The impact on the UK economy of a reduction in fuel duty The impact on the UK economy of a reduction in fuel duty Report for Fair Fuel UK March 2012 Centre for Economics and Business Research Ltd. Unit 1, 4 Bath Street, London EC1V 9DX t: 020 7324 2850 f: 020

More information

Explaining the changing input-output multipliers in South African: 1980-2010

Explaining the changing input-output multipliers in South African: 1980-2010 Explaining the changing input-output multipliers in South African: 1980-2010 Le Roux Burrows Anthonie P. Botha # Paper presented at the Biennial Conference of the Economic Society of South Africa 25-27

More information

The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012

The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012 The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Areas Economies in FY 2012 January 2014 A Study Commissioned by The Technical College System of Georgia

More information

The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma

The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma The Economic Impact of the New Hospital on the Economy of Drumright, Creek County, Oklahoma Drumright Creek County Oklahoma Cooperative Extension Service Oklahoma Office of Rural Health Rural Health Policy

More information

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States August 2014 The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States THE PERRYMAN GROUP 510 N. Valley Mills Dr. Suite 300 Waco,

More information

The Economic Impact of Health Services on the Economy of Sumter County, Alabama

The Economic Impact of Health Services on the Economy of Sumter County, Alabama The Economic Impact of Health Services on the Economy of Sumter County, Alabama Hospitals Nursing Homes Physicians, Dentists, Etc. Pharmacies Other Services Prepared by: National Center for Rural Health

More information

Macroeconomic. impact of the Wind Energy Sector in Belgium

Macroeconomic. impact of the Wind Energy Sector in Belgium Macroeconomic impact of the Wind Energy Sector in Belgium Report December 2012 For further information please visit www.deloitte.es Deloitte provides audit, tax and legal advisory, consulting and corporate

More information

Impacts of CarePoint Health Operating and Capital Expenditures on the Economy of Hudson County and the State of New Jersey

Impacts of CarePoint Health Operating and Capital Expenditures on the Economy of Hudson County and the State of New Jersey Impacts of CarePoint Health Operating and Capital Expenditures on the Economy of Hudson County and the State of New Jersey Submitted to: CarePoint Health February 2015 Joseph J. Seneca, Michael L. Lahr,

More information

Alberta Economic Multipliers

Alberta Economic Multipliers Alberta Economic Multipliers 2011 Representations and Warranties Government of Alberta, 2015 The information contained in this publication is based on the 2011 Input tables produced by Statistics Canada.

More information

National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis

National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis National Heavy Duty Truck Transportation Efficiency Macroeconomic Impact Analysis Prepared for the: Union of Concerned Scientists 2397 Shattuck Ave., Suite 203 Berkeley, CA 94704 Prepared by: Marshall

More information

The Economic Impacts of Reducing. Natural Gas and Electricity Use in Ontario

The Economic Impacts of Reducing. Natural Gas and Electricity Use in Ontario The Economic Impacts of Reducing Natural Gas and Electricity Use in Ontario Prepared for Blue Green Canada July 2013 Table of Contents Executive Summary... i Key Findings... i Introduction...1 Secondary

More information

Introduction. Current methodology

Introduction. Current methodology Estimation of Software in the U.S. National Accounts: New Developments by Carol Moylan Bureau of Economic Analysis U. S. Department of Commerce Washington, DC 20230, USA Introduction In 1999, as part of

More information

The Role of Green Electricity Purchases in Reducing Commercial/Institutional Entity s Carbon Footprint

The Role of Green Electricity Purchases in Reducing Commercial/Institutional Entity s Carbon Footprint The Role of Green Electricity Purchases in Reducing Commercial/Institutional Entity s Carbon Footprint Extended Abstract #66 Y. Anny Huang 1, Christopher L. Weber 2, and H. Scott Matthews 3 1 Formerly

More information

An Economic Impact Analysis.

An Economic Impact Analysis. Briefing August 2013 Making Dollars and Sense of Canada s Mutual Fund Industry An Economic Impact Analysis. At a Glance Canada s mutual fund industry directly created $5.8 billion in real GDP in 2012 on

More information

Travel & Tourism Sector Ranking Australia

Travel & Tourism Sector Ranking Australia Travel & Tourism Sector Ranking Australia Summary of Findings, November 2013 Introduction Sector Ranking Analysis In order to better understand the importance of the Travel & Tourism industry in a global

More information

billion paid to private sector workers during 2012. Focus on Meeting and Convention Segment. The convention and

billion paid to private sector workers during 2012. Focus on Meeting and Convention Segment. The convention and Executive Summary Applied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations and southern

More information

Quarterly National Accounts Inventory. Sources and methods of the Quarterly National Accounts for Denmark

Quarterly National Accounts Inventory. Sources and methods of the Quarterly National Accounts for Denmark Quarterly National Accounts Inventory Sources and methods of the Quarterly National Accounts for Denmark June 2008 Authors: Timmi Rølle Graversen, e-mail: trg@dst.dk Brian Südel, e-mail: bsu@dst.dk Jeppe

More information

Question 2: How do you solve a matrix equation using the matrix inverse?

Question 2: How do you solve a matrix equation using the matrix inverse? Question : How do you solve a matrix equation using the matrix inverse? In the previous question, we wrote systems of equations as a matrix equation AX B. In this format, the matrix A contains the coefficients

More information

THE PROJECTED ECONOMIC AND FISCAL IMPACTS OF A TENNESSEE HISTORIC REHABILITATION INVESTMENT INCENTIVE

THE PROJECTED ECONOMIC AND FISCAL IMPACTS OF A TENNESSEE HISTORIC REHABILITATION INVESTMENT INCENTIVE THE PROJECTED ECONOMIC AND FISCAL IMPACTS OF A TENNESSEE HISTORIC REHABILITATION INVESTMENT INCENTIVE February 2014 Prepared by: Economic Impact Group, LLC. Copyright 2014 Economic Impact Group, LLC. EXECUTIVE

More information

Eli Lilly. and Company. in Indiana

Eli Lilly. and Company. in Indiana Economic Eli Lilly Impact of and Company in Indiana The Economic Impact of Eli Lilly and Company on the State of Indiana and the Indianapolis-Carmel Metropolitan Statistical Area June 2009 Prepared by

More information

Impacts of Demand and Technology in Brazilian Economic Growth of 2000-2009

Impacts of Demand and Technology in Brazilian Economic Growth of 2000-2009 Impacts of Demand and Technology in Brazilian Economic Growth of 2000-2009 Elcio Cordeiro da Silva 1, Daniel Lelis de Oliveira 2, José Tarocco Filho 3 and Umberto Antonio SessoFilho 4 Abstract: The objective

More information

Enhancing the value of Health Care Services at a regional level

Enhancing the value of Health Care Services at a regional level Enhancing the value of Health Care Services at a regional level Dr. Galina Williams 1 (Ivanova) and Dr. Delwar Akbar 2 1 School of Business and Law, CQUniversity, 160 Ann Street, Brisbane, Queensland,

More information

A. Framework and compilation

A. Framework and compilation Framework for data integration in support of SNA compilation and modeling: Exercise for use of SNA in early estimates and projections in Central America By Jan W. van Tongeren, IVO. April 2006. A. Framework

More information

Input-Output Models for Impact Analysis: Suggestions for Practitioners Using RIMS II Multipliers

Input-Output Models for Impact Analysis: Suggestions for Practitioners Using RIMS II Multipliers Input-Output Models for Impact Analysis: Suggestions for Practitioners Using RIMS II Multipliers Rebecca Bess and Zoë O. Ambargis Presented at the 50 th Southern Regional Science Association Conference

More information

The Economic Impact of a Rural Dentist Gerald A. Doeksen, Fred C. Eilrich and Cheryl F. St. Clair, National Center for Rural Health Works

The Economic Impact of a Rural Dentist Gerald A. Doeksen, Fred C. Eilrich and Cheryl F. St. Clair, National Center for Rural Health Works National Center for Rural Health Works www.ruralhealthworks.org August 2014 Research Study The Economic of a Rural Dentist Gerald A. Doeksen, Fred C. Eilrich and Cheryl F. St. Clair, National Center for

More information

City of Beverly. Impact ECONOMIC STUDY. conducted for ENDICOTT RESEARCH CENTER ENDICOTT COLLEGE BEVERLY, MASSACHUSETTS

City of Beverly. Impact ECONOMIC STUDY. conducted for ENDICOTT RESEARCH CENTER ENDICOTT COLLEGE BEVERLY, MASSACHUSETTS City of Beverly Impact ECONOMIC STUDY conducted for by ENDICOTT RESEARCH CENTER ENDICOTT COLLEGE BEVERLY, MASSACHUSETTS City of Beverly Impact ECONOMIC STUDY conducted for CONTENTS Executive Summary.............................

More information

Business and Technology Incubator Economic Impact Analysis

Business and Technology Incubator Economic Impact Analysis Missouri University of Science and Technology Business and Technology Incubator Economic Impact Analysis Prepared by: The Office of Technology Transfer and Economic Development May 19, 2009 2009 Table

More information

Global Sector. How does Travel & Tourism compare to other sectors? GDP. Global Direct GDP. Global GDP Impact by Industry

Global Sector. How does Travel & Tourism compare to other sectors? GDP. Global Direct GDP. Global GDP Impact by Industry Global Sector Agriculture Automotive Banking Chemicals Communications Education Financial Mining Other Service Manufacturing Manufacturing Services Exports Retail (without wholesale) Total Economy Travel

More information

On March 11, 2010, President Barack

On March 11, 2010, President Barack U.S. Department of Commerce International Trade Administration Introduction Exports Support American Jobs Updated measure will quantify progress as global economy recovers. On March 11, 21, President Barack

More information

Impact of Fuel Price Increases on Texas Crops

Impact of Fuel Price Increases on Texas Crops Impact of Fuel Price Increases on Texas Crops Chris R. Eggerman Research Assistant Department of Agricultural Economics Texas A&M University College Station, Texas 77843-2124 creggerman@ag.tamu.edu James

More information

Chapter 2 Approach of Input Output Table at Regional Level

Chapter 2 Approach of Input Output Table at Regional Level Chapter 2 Approach of Input Output Table at Regional Level Input output analysis involves all aspects of the national accounts related to goods and services, including expenditure aggregates. Input output

More information

REPORT INPUT-OUTPUT MULTIPLIERS SPECIFICATION SHEET AND SUPPORTING MATERIAL. D Hernoncourt, J., Cordier, M., and Hadley, D.

REPORT INPUT-OUTPUT MULTIPLIERS SPECIFICATION SHEET AND SUPPORTING MATERIAL. D Hernoncourt, J., Cordier, M., and Hadley, D. Project N : 036992 ACRONYM : Science Policy Integration for Coastal Systems Assessment REPORT INPUT-OUTPUT MULTIPLIERS SPECIFICATION SHEET AND SUPPORTING MATERIAL D Hernoncourt, J., Cordier, M., and Hadley,

More information

Outsourcing and Imported Services in BEA s Industry Accounts

Outsourcing and Imported Services in BEA s Industry Accounts Outsourcing and Imported Services in BEA s Industry Accounts Robert E. Yuskavage, Erich H. Strassner, and Gabriel W. Medeiros U.S. Department of Commerce Bureau of Economic Analysis Washington DC Paper

More information

The economic impact of the University of West London

The economic impact of the University of West London The economic impact of the University of West London Contents Executive Summary 2 1 Introduction 4 1.1 Purpose of report 1.2 Acknowledgements 2 Measuring the economic impact of the University 6 2.1 How

More information

0 100 200 300 Real income (Y)

0 100 200 300 Real income (Y) Lecture 11-1 6.1 The open economy, the multiplier, and the IS curve Assume that the economy is either closed (no foreign trade) or open. Assume that the exchange rates are either fixed or flexible. Assume

More information

Final Report. Measuring the Economic Impact of Improved Electricity Distribution in Connecticut. Prepared by Regional Economic Models, Inc.

Final Report. Measuring the Economic Impact of Improved Electricity Distribution in Connecticut. Prepared by Regional Economic Models, Inc. Measuring the Economic Impact of Improved Electricity Distribution in Connecticut Final Report Prepared by Regional Economic Models, Inc. For Connecticut Light & Power July 2007 TABLE OF CONTENTS Executive

More information

LABOUR PRODUCTIVITY AND UNIT LABOUR COST Economic development Employment Core indicator

LABOUR PRODUCTIVITY AND UNIT LABOUR COST Economic development Employment Core indicator LABOUR PRODUCTIVITY AND UNIT LABOUR COST Economic development Employment Core indicator 1. INDICATOR (a) Name: Labour productivity and unit labour costs. (b) Brief Definition: Labour productivity is defined

More information

Background on the Economic Impact Methodology Used in the Analysis

Background on the Economic Impact Methodology Used in the Analysis Background on the Economic Impact Methodology Used in the Analysis Approach and Models Developed A. Strauss-Wieder, Inc. (ASWinc) constructed a multi-regional input-output model using the IMPLAN version

More information

Methodologies for assessing Green Jobs Policy Brief

Methodologies for assessing Green Jobs Policy Brief Methodologies for assessing Green Jobs Policy Brief Introduction By pioneering sustainable economic activities, both developed and developing countries stand to generate new jobs and strengthen their economies,

More information

POWER SECTOR ECONOMIC MULTIPLIER TOOL: ESTIMATING THE BROAD IMPACTS OF POWER SECTOR PROJECTS. Methodology

POWER SECTOR ECONOMIC MULTIPLIER TOOL: ESTIMATING THE BROAD IMPACTS OF POWER SECTOR PROJECTS. Methodology POWER SECTOR ECONOMIC MULTIPLIER TOOL: ESTIMATING THE BROAD IMPACTS OF POWER SECTOR PROJECTS Methodology June, 2015 This white paper was prepared by IFC CGEDR (Evgenia Shumilkina, Results Measurement Specialist)

More information

An Analysis of Price Determination and Markups in the Air-Conditioning and Heating Equipment Industry

An Analysis of Price Determination and Markups in the Air-Conditioning and Heating Equipment Industry LBNL-52791 An Analysis of Price Determination and Markups in the Air-Conditioning and Heating Equipment Industry Larry Dale, Dev Millstein, Katie Coughlin, Robert Van Buskirk, Gregory Rosenquist, Alex

More information

Economic Contributions of Pacific Gas and Electric Company

Economic Contributions of Pacific Gas and Electric Company Economic Contributions of Pacific Gas and Electric Company February 2014 Prepared for: Pacific Gas and Electric Company 77 Beale Street San Francisco, CA 94105 www.pge.com Prepared by: 400 Capitol Mall,

More information

ESTIMATION OF QUARTERLY ACCOUNTS IN INDIA

ESTIMATION OF QUARTERLY ACCOUNTS IN INDIA ESTIMATION OF QUARTERLY ACCOUNTS IN INDIA Ramesh Kolli 1 Additional Director General Ministry of Statistics and Programme Implementation, India I INTRODUCTION 1. The Central Statistical Organisation (CSO)

More information

IHS Study on the Economic Impact of Proposed Restrictions on Tax Exempt Bonds for Nonprofit Organizations

IHS Study on the Economic Impact of Proposed Restrictions on Tax Exempt Bonds for Nonprofit Organizations IHS Study on the Economic Impact of Proposed Restrictions on Tax Exempt Bonds for Nonprofit Organizations Prepared For: Submitted By: IHS Global Inc. 15 Inverness Way East Englewood, CO 80112 October 2013

More information

MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS

MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS Economic Development Research Group April 1997 MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS GLEN WEISBROD, ECONOMIC DEVELOPMENT RESEARCH GROUP BURTON WEISBROD, ECONOMICS DEPT., NORTHWESTERN UNIV.

More information

10 th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 1-2, 2007

10 th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 1-2, 2007 10 th National Convention on Statistics (NCS) EDSA Shangri-La Hotel October 1-2, 2007 An Input-Output Analysis of the Philippine BPO Industry by Nedelyn Magtibay-Ramos, Gemma Esther Estrada, and Jesus

More information

Introduction to Macroeconomics TOPIC 2: The Goods Market

Introduction to Macroeconomics TOPIC 2: The Goods Market TOPIC 2: The Goods Market Annaïg Morin CBS - Department of Economics August 2013 Goods market Road map: 1. Demand for goods 1.1. Components 1.1.1. Consumption 1.1.2. Investment 1.1.3. Government spending

More information

May 2015. The economic impact of the UK Maritime Services Sector: Business Services

May 2015. The economic impact of the UK Maritime Services Sector: Business Services May 2015 The economic impact of the UK Maritime Services Sector: Business Services Contents 1 Executive summary... 2 2 Introduction... 4 2.1 The channels of economic impact... 4 2.2 Report structure...

More information

Economic Impacts of Planned School Construction Projects in New Jersey

Economic Impacts of Planned School Construction Projects in New Jersey Economic Impacts of Planned School Construction Projects in New Jersey Dr. Michael L. Lahr, Center for Urban Policy Research Dr. Aaron R. Fichtner, John J. Heldrich Center for Workforce Development Edward

More information

Jobs and Growth Effects of Tax Rate Reductions in Ohio

Jobs and Growth Effects of Tax Rate Reductions in Ohio Jobs and Growth Effects of Tax Rate Reductions in Ohio BY ALEX BRILL May 2014 This report was sponsored by American Freedom Builders, Inc., a 501(c)4 organization. The author is solely responsible for

More information

ANALYZING THE ECONOMIC IMPACT OF TRANSPORTATION PROJECTS USING RIMS II, IMPLAN AND REMI

ANALYZING THE ECONOMIC IMPACT OF TRANSPORTATION PROJECTS USING RIMS II, IMPLAN AND REMI ANALYZING THE ECONOMIC IMPACT OF TRANSPORTATION PROJECTS USING RIMS II, IMPLAN AND REMI Prepared for: Office of Research and Special Programs U. S. Department of Transportation, Washington D. C. 20690

More information

Study on the Impacts of Electricity Tariff Increase on the National Economy of Vietnam

Study on the Impacts of Electricity Tariff Increase on the National Economy of Vietnam Chapter 10 Study on the Impacts of Electricity Tariff Increase on the National Economy of Vietnam Nguyen Quoc Khanh Independent Researcher August 2012 This chapter should be cited as Nguyen, Q. K. (2012),

More information

Introduction. Introduction, Contd. Introduction, Contd.

Introduction. Introduction, Contd. Introduction, Contd. Anil Rupasingha, PhD and J. Michael Patrick, PhD Department of Agr. Economics and Agr. Business Corporative Extension Service Introduction Everyone involved in CED needs to understand how their economy

More information

Prepared. for: Motion. Picture. Prepared HR&A. Advisors, 99

Prepared. for: Motion. Picture. Prepared HR&A. Advisors, 99 Economic and Fiscal Impacts of the New York State Film Production Tax Credit Prepared for: Motion Picture Association of America (MPAA) December 3, 2012 Prepared by: HR&A Advisors, Inc. 99 Hudson St, Third

More information

Economic impacts of cultural events on local economies: an input output analysis of the Kaustinen Folk Music Festival

Economic impacts of cultural events on local economies: an input output analysis of the Kaustinen Folk Music Festival Tourism Economics, 2005, 11 (3), 431 451 Economic impacts of cultural events on local economies: an input output analysis of the Kaustinen Folk Music Festival TIMO TOHMO School of Business and Economics,

More information

Some micro- and macro-economics of offshore wind*

Some micro- and macro-economics of offshore wind* Some micro- and macro-economics of offshore wind* EPSRC SUPERGEN Wind Energy Hub University of Strathclyde May 2016 Fraser of Allander Institute Energy Modelling Team Fraser of Allander Institute Department

More information

The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis

The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The economic impacts of the UK sea fishing and fish processing sectors: An input-output analysis The contents

More information

Chapter 3 Quantitative Analysis of the Procurement Structure of Supporting Industries in ASEAN 4, Republic of Korea, and Japan

Chapter 3 Quantitative Analysis of the Procurement Structure of Supporting Industries in ASEAN 4, Republic of Korea, and Japan Chapter 3 Quantitative Analysis of the Procurement Structure of Supporting Industries in ASEAN 4, Republic of Korea, and Japan Toshiyuki Baba * 1. Introduction The aim of this paper is to describe quantitatively

More information

Economic Impact Analysis of PSE&G s Capital Expenditure Program

Economic Impact Analysis of PSE&G s Capital Expenditure Program Economic Impact Analysis of PSE&G s Capital Expenditure Program Submitted to: PSE&G June 2014 Joseph J. Seneca, Michael L. Lahr, Will Irving Contents Introduction... 1 Project Expenditure Data... 2 Methodology...

More information

MACROECONOMIC ANALYSIS OF VARIOUS PROPOSALS TO PROVIDE $500 BILLION IN TAX RELIEF

MACROECONOMIC ANALYSIS OF VARIOUS PROPOSALS TO PROVIDE $500 BILLION IN TAX RELIEF MACROECONOMIC ANALYSIS OF VARIOUS PROPOSALS TO PROVIDE $500 BILLION IN TAX RELIEF Prepared by the Staff of the JOINT COMMITTEE ON TAXATION March 1, 2005 JCX-4-05 CONTENTS INTRODUCTION... 1 EXECUTIVE SUMMARY...

More information

T1 Model Flow Diagrams

T1 Model Flow Diagrams Slide 1 T1 Model Flow Diagrams M.C. McCracken Nancy Cebryk Informetrica Limited November 2003 Slide 2 T1 Flows (11/03) Demography Stocks of Wealth Final Demand Foreign Linkages Disposable Incomes Government

More information

CHOICES The magazine of food, farm and resource issues

CHOICES The magazine of food, farm and resource issues CHOICES The magazine of food, farm and resource issues Second Quarter 2003 A publication of the American Agricultural Economics Association Policy Uses of Economic Multiplier and Impact Analysis By David

More information

The Economic Contribution of Copyright-Based Industries in Australia

The Economic Contribution of Copyright-Based Industries in Australia The Economic Contribution of Copyright-Based Industries in Australia 3 Prepared for the Australian Copyright Council by Price Waterhouse Coopers Contents Key findings 3 Introduction 7 1 Value added by

More information

Women Business Owners Create Jobs and Income - A Review

Women Business Owners Create Jobs and Income - A Review The Economic Impact of Women-Owned Businesses In the United States Underwritten by: Walmart National Women s Business Council Center for Women s Business Research October 2009 1760 Old Meadow Road, Suite

More information

KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012

KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012 KING COLLEGE SCHOOL OF BUSINESS KING COLLEGE REGIONAL ECONOMIC STUDIES (KCRES) KCRES PAPER NO. 4, May 2012 Economic Impact Multipliers for the Coalfield Region of Southwestern Virginia The Coalfield Region

More information

Answers to Text Questions and Problems. Chapter 22. Answers to Review Questions

Answers to Text Questions and Problems. Chapter 22. Answers to Review Questions Answers to Text Questions and Problems Chapter 22 Answers to Review Questions 3. In general, producers of durable goods are affected most by recessions while producers of nondurables (like food) and services

More information

The Economic Impact of Commercial Airports in 2010

The Economic Impact of Commercial Airports in 2010 The Economic Impact of Commercial Airports in 2010 January 2012 Prepared for: Airports Council International North America Prepared by: CDM Smith 8805 Governor s Hill Drive Cincinnati, Ohio 45249 Table

More information

14.02 Principles of Macroeconomics Problem Set 1 *Solution* Fall 2004

14.02 Principles of Macroeconomics Problem Set 1 *Solution* Fall 2004 4.02 Principles of Macroeconomics Problem Set *Solution* Fall 2004 Part I. True/False/Uncertain Justify your answer with a short argument.. From 960 to 2000, the US, EU, and Japan all have experienced

More information

WORLD BANK CHINA RESEARCH PAPER NO. 8

WORLD BANK CHINA RESEARCH PAPER NO. 8 WORLD BANK CHINA RESEARCH PAPER NO. 8 RAW MATERIAL PRICES, WAGES, AND PROFITABILITY IN CHINA S INDUSTRY HOW WAS PROFITABILITY MAINTAINED WHEN INPUT PRICES AND WAGES INCREASED SO FAST? Song-Yi Kim * / and

More information

Economic and Rate Impact Analysis of Clean Energy Development in North Carolina 2015 Update

Economic and Rate Impact Analysis of Clean Energy Development in North Carolina 2015 Update February 2015 Economic and Rate Impact Analysis of Clean Energy Development in North Carolina 2015 Update Prepared for North Carolina Sustainable Energy Association 4800 Six Forks Rd Suite 300 Raleigh,

More information

Small, Medium-sized, and Large Businesses in the Canadian Economy: Measuring Their Contribution to Gross Domestic Product from 2001 to 2008

Small, Medium-sized, and Large Businesses in the Canadian Economy: Measuring Their Contribution to Gross Domestic Product from 2001 to 2008 Catalogue no. 11F0027M No. 082 ISSN 1703-0404 ISBN 978-1-100-21432-0 Research Paper Economic Analysis (EA) Research Paper Series Small, Medium-sized, and Large Businesses in the Canadian Economy: Measuring

More information

Afghanistan Statistical Yearbook 2011-12 126

Afghanistan Statistical Yearbook 2011-12 126 Afghanistan Statistical Yearbook 2011-12 126 Afghanistan Statistical Yearbook 2011-12 127 Afghanistan Statistical Yearbook 2011-12 128 Afghanistan Statistical Yearbook 2011-12 129 Million Afs Sector 1390

More information

Preparation course Msc Business & Econonomics

Preparation course Msc Business & Econonomics Preparation course Msc Business & Econonomics The simple Keynesian model Tom-Reiel Heggedal BI August 2014 TRH (BI) Keynes model August 2014 1 / 19 Assumptions Keynes model Outline for this lecture: Go

More information

Tourism: jobs and growth The economic contribution of the tourism economy in the UK

Tourism: jobs and growth The economic contribution of the tourism economy in the UK Tourism: jobs and growth The economic contribution of the tourism economy in the UK November 2013 Contents The Tourism Economy: contributing to UK growth 1 Tourism: Benefitting all of Britain 2 Executive

More information

A Labour Economic Profile of New Brunswick

A Labour Economic Profile of New Brunswick A Labour Economic Profile of New Brunswick January 2016 Table of Contents New Brunswick Highlights........................... 2 Current Business Environment....................... 3 GDP Snapshot....................................

More information

ENGINEERING LABOUR MARKET

ENGINEERING LABOUR MARKET ENGINEERING LABOUR MARKET in Canada Projections to 2025 JUNE 2015 ENGINEERING LABOUR MARKET in Canada Projections to 2025 Prepared by: MESSAGE FROM THE CHIEF EXECUTIVE OFFICER Dear colleagues: Engineers

More information

= C + I + G + NX ECON 302. Lecture 4: Aggregate Expenditures/Keynesian Model: Equilibrium in the Goods Market/Loanable Funds Market

= C + I + G + NX ECON 302. Lecture 4: Aggregate Expenditures/Keynesian Model: Equilibrium in the Goods Market/Loanable Funds Market Intermediate Macroeconomics Lecture 4: Introduction to the Goods Market Review of the Aggregate Expenditures model and the Keynesian Cross ECON 302 Professor Yamin Ahmad Components of Aggregate Demand

More information

Q UANTITATIVE E CONOMICS & S TATISTICS AUGUST 25, 2005. Virginia Taxes Paid by Manufacturers

Q UANTITATIVE E CONOMICS & S TATISTICS AUGUST 25, 2005. Virginia Taxes Paid by Manufacturers Q UANTITATIVE E CONOMICS & S TATISTICS AUGUST 25, 2005 Virginia Taxes Paid by Manufacturers $16 $14 $12 $10 $8 $6 $12.5 $12.2 $10.7 $10.8 $4 $2 $0 19992000200120022003 Introduction This study provides

More information

GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 29th January, 2016. GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

More information

Economic Impacts of Utah Valley University

Economic Impacts of Utah Valley University Economic Impacts of Utah Valley University Prepared For: Utah Valley University (UVU) Prepared By: Jack Faucett Associates, Inc. (JFA) Date: November 9, 2011 1 Purpose The purpose of this presentation

More information

Summary of the Esa2010 revision of National Accounts

Summary of the Esa2010 revision of National Accounts 9 September 2014 Summary of the Esa2010 revision of National Accounts Year 2011 In conjunction with the introduction of the new European system of national and regional accounts (Esa2010) Manual, Italy

More information

Photo: James Horan Courtesy Destination New South Wales. Blue Mountains Tourism Industry Profile. Issue 1: 2014/15

Photo: James Horan Courtesy Destination New South Wales. Blue Mountains Tourism Industry Profile. Issue 1: 2014/15 Photo: James Horan Courtesy Destination New South Wales Blue Mountains Tourism Industry Profile Issue 1: 2014/15 1 BELL MT TOMAH MT WILSON MT IRVINE BILPIN BERAMBING MEGALONG VALLEY MT VICTORIA BLACKHEATH

More information

Concepts and Methods of the U.S. Input-Output Accounts

Concepts and Methods of the U.S. Input-Output Accounts September 2006 Updated April 2009 Concepts and Methods of the U.S. Input-Output Accounts Measuring the Nation s Economy. Concepts and Methods of the Input-Output Accounts Karen J. Horowitz Mark A. Planting

More information

Chapter 2 THE NATURE OF THE VALUE-ADDED

Chapter 2 THE NATURE OF THE VALUE-ADDED - 5 - Chapter 2 THE NATURE OF THE VALUE-ADDED TAX I. Introduction A value-added tax is a multistage sales tax that is collected at each stage or point in the production and distribution process. ~n a typical

More information

ECONOMIC OPPORTUNITIES WITHIN YOUR REGIONAL SUPPLY CHAINS CHRIS BROWN SENIOR ASSOCIATE REMI

ECONOMIC OPPORTUNITIES WITHIN YOUR REGIONAL SUPPLY CHAINS CHRIS BROWN SENIOR ASSOCIATE REMI ECONOMIC OPPORTUNITIES WITHIN YOUR REGIONAL SUPPLY CHAINS CHRIS BROWN SENIOR ASSOCIATE REMI Regional Economy Through the Lens of REMI Defining Supply Chains Firm Supply Chain Management vs Inter-industry

More information

DEMONSTRATING ECONOMIC

DEMONSTRATING ECONOMIC FEBRUARY 2015 DEMONSTRATING THE COLLECTIVE ECONOMIC COLLECTIVE VALUE OF DEMONSTRATING ECONOMIC VALUE OF NORTH CAROLINA COMMUNITY COLLEGES NORTH CAROLINA COMMUNITY COLLEGES FEBRUARY 2015 MAIN REPORT 1 CONTENTS

More information

The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a. Daniel Otto and Georgeanne Artz b

The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a. Daniel Otto and Georgeanne Artz b The Economic Impact of the Health Sector on the Economy of Dallas County, Iowa a Daniel Otto and Georgeanne Artz b The importance of medical and health facilities as community service providers is well

More information

2013 Cape Breton Celtic Classic Sydney, Nova Scotia

2013 Cape Breton Celtic Classic Sydney, Nova Scotia 2013 Cape Breton Celtic Classic Sydney, Nova Scotia Economic Impact Assessment December 2013 The following analysis details the economic impact of the PGA Tour of Canada 2013 Cape Breton Celtic Classic

More information

Forecasts of Macroeconomic Developments, State Revenues from Taxes and Revenue from Other Sources, 2013-2014

Forecasts of Macroeconomic Developments, State Revenues from Taxes and Revenue from Other Sources, 2013-2014 Ministry of Finance Chief Economist - Research, State Revenue and International Affairs June 2013 Forecasts of Macroeconomic Developments, State Revenues from Taxes and Revenue from Other Sources, 2013-2014

More information

Measuring GDP and Economic Growth

Measuring GDP and Economic Growth 20 Measuring GDP and Economic Growth After studying this chapter you will be able to Define GDP and explain why GDP equals aggregate expenditure and aggregate income Explain how Statistics Canada measures

More information

HW 2 Macroeconomics 102 Due on 06/12

HW 2 Macroeconomics 102 Due on 06/12 HW 2 Macroeconomics 102 Due on 06/12 1.What are the three important macroeconomic goals about which most economists, and society at large, agree? a. economic growth, full employment, and low interest rates

More information

The Food Assistance National Input-Output Multiplier (FANIOM) Model and Stimulus Effects of SNAP

The Food Assistance National Input-Output Multiplier (FANIOM) Model and Stimulus Effects of SNAP United States Department of Agriculture Economic Research Service Economic Research Report Number 103 October 2010 The Food Assistance National Input-Output Multiplier (FANIOM) Model and Stimulus Effects

More information

THE ECONOMIC CONTRIBUTION OF THE EQUIPMENT LEASING INDUSTRY TO THE U.S. ECONOMY

THE ECONOMIC CONTRIBUTION OF THE EQUIPMENT LEASING INDUSTRY TO THE U.S. ECONOMY THE ECONOMIC CONTRIBUTION OF THE EQUIPMENT LEASING INDUSTRY TO THE U.S. ECONOMY Prepared for: EQUIPMENT LEASING ASSOCIATION PREPARED BY: Global Insight, Advisory Services Group 610.490.2749 March 1, 2004-1

More information

Agricultural ECONOMICS. The Use of Multipliers in Economic Impact Estimates

Agricultural ECONOMICS. The Use of Multipliers in Economic Impact Estimates EC-686 $1.00 Agricultural ECONOMICS Community Development The Use of Multipliers in Economic Impact Estimates David Broomhall Extension Economist Introduction In many communities across America local officials

More information

STRUCTURE OF THE WORLD ECONOMY

STRUCTURE OF THE WORLD ECONOMY STRUCTURE OF THE WORLD ECONOMY Outline of a Simple Input-Output Formulation* Nobel Memorial Lecture, December 11, 1973 by WA SSILY LE ONTIEF Harvard University, Cambridge, Massachusetts, USA. I The world

More information

Chapter 20. The Measurement of National Income. In this chapter you will learn to. National Output and Value Added

Chapter 20. The Measurement of National Income. In this chapter you will learn to. National Output and Value Added Chapter 20 The Measurement of National Income In this chapter you will learn to 1. Use the concept of value added to solve the problem of double counting when measuring national income. 2. Describe the

More information