ESTIMATING ECONOMIC IMPACTS USING INDUSTRY AND HOUSEHOLD EXPENDITURES

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Abstract
Community development practitioners are often requested to assess the economic impact of some event or change in policy. One approach for estimating impacts utilizes input-output (I/O) modeling techniques. Input-output models are traditionally used to derive economic multipliers, which are then used in economic impact analysis. However, they also contain regional economic accounts which describe the structure of a regional economy. I/O accounts contain estimates of expenditures on goods and services by households, governments and industries. The method proposed in this article shows how expenditure information obtained from the I/O accounts can be used to generate detailed information of an event to be studied. By using the expenditure information, a better understanding of the initial event can be obtained. An example of a study examining the economic impacts of a proposed power plant in Bucksport, Maine, using MicroIMPLAN, a desktop computer based I/O model, is provided.

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