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Economic Impact Analysis with IMPLAN

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Penn State University
Penn State University

Presentation by Rose Baker and David Passmore @ Penn State York Campus, 29 May 2008.

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Economic Impact Analysis with IMPLAN Rose M. Baker David L. Passmore
Who we are… ,[object Object],[object Object],Who are you?
Your experiences & plans http://implan.questionpro.com
Your experiences & plans What you told us….
 
Our process today ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
For information after today
Input-Output Analysis A systematic view of production and consumption in an economy
Sex life of your regional economy < the birds & bees of job creation >
The economy is like a ball of string < complex > < intertwined > < large > < unexpected >
Way to organize data < input-output tables > Summarize production & consumption.
Input-output table ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
How is economic activity classified? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
NAICS classifies industries ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],An example
Primary & secondary commodities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Simple input-output table ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
Industries produce goods & services ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output producers
Industries purchase goods & services ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output purchasers
Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output interindustry transactions
Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output direct requirements
A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 2 from ind 1
A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 3 from ind 2; or, ind 2 produces for ind 3
A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 1 from itself; some industries use the products they make
Industry production function -- the direct supply chain ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand All purchases of ind 1; aka industry production function
Producing & purchasing continues until goods or services created ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand < make/use… make/use… make/use… the production cycle goes round & round >
Consumption ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
Final demand… Gross domestic product… MDEV 6058  Penn State Management Development ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand ind 1 ind 2 ind 3 ind 4 < personal consumption > < government purchases > < investment > < export >
Total economic output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output production + consumption = total output
Some Examples of Input-Output Tables
Here is the sex part…. < where jobs come from >
Jobs are created because… ,[object Object],[object Object],[object Object],[object Object]
Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < in each industry, it takes a certain number of people to create a dollar’s worth of total economic output >
Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < if It takes .001 workers to create $1 of economic output, then,                               
Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 Ind 2 ind 3 ind 4 < if It takes .001 workers to create $1 of economic output, then, with $1 billion of total industrial output, 1 million workers are required >
Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < changes in labor intensity or in total economic output create changes in numbers and kinds of jobs >
Occupational employment is tied to total industrial output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < industries use different occupations > < industries use different labor intensities > < occupational employment differs by industry >
Occupational employment is created.. … when people use their unique human capital to create goods & services
Results of input-output analysis
Input-output tables are used for… ,[object Object],[object Object],[object Object]
Local uses of input-output analysis < producer & purchaser data > < multipliers >
Multiplier A product of input-output analysis
producer/purchaser data… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output producers purchasers
Multipliers ,[object Object],[object Object],[object Object],[object Object]
Producing & purchasing multiplies… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand
Multipliers display three components of change ,[object Object],[object Object],[object Object]
Direct effects ,[object Object],[object Object]
Indirect effects ,[object Object],[object Object]
Induced effects ,[object Object],[object Object]
Two types of multipliers type 1 = type 2 = direct + indirect direct direct + indirect + induced direct
Some employment multipliers
[object Object],[object Object],[object Object],[object Object],http://www.implan.com
Marketing waste industries ,[object Object],[object Object],[object Object],[object Object],IMPLAN analysis of multipliers for waste/recycling activity: Employment Personal Income Total Income Value Added Total Output
Waste/recycling multipliers for Pennsylvania
Loss of opportunity Penn State research on: Community Costs of Technical Skills Deficits
Quick response, regional impact Penn State research: Economic & Workforce Brief series
Economic Impact Analysis with IMPLAN Rose M. Baker David L. Passmore

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Economic Impact Analysis with IMPLAN

  • 1. Economic Impact Analysis with IMPLAN Rose M. Baker David L. Passmore
  • 2.
  • 3. Your experiences & plans http://implan.questionpro.com
  • 4. Your experiences & plans What you told us….
  • 5.  
  • 6.
  • 8. Input-Output Analysis A systematic view of production and consumption in an economy
  • 9. Sex life of your regional economy < the birds & bees of job creation >
  • 10. The economy is like a ball of string < complex > < intertwined > < large > < unexpected >
  • 11. Way to organize data < input-output tables > Summarize production & consumption.
  • 12. Input-output table ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
  • 13.
  • 14.
  • 15.
  • 16. Simple input-output table ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
  • 17. Industries produce goods & services ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output producers
  • 18. Industries purchase goods & services ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output purchasers
  • 19. Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
  • 20. Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output interindustry transactions
  • 21. Production sector of the economy ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output direct requirements
  • 22. A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 2 from ind 1
  • 23. A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 3 from ind 2; or, ind 2 produces for ind 3
  • 24. A closer look at interindustry transactions ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand purchases of ind 1 from itself; some industries use the products they make
  • 25. Industry production function -- the direct supply chain ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand All purchases of ind 1; aka industry production function
  • 26. Producing & purchasing continues until goods or services created ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand < make/use… make/use… make/use… the production cycle goes round & round >
  • 27. Consumption ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output
  • 28. Final demand… Gross domestic product… MDEV 6058  Penn State Management Development ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand ind 1 ind 2 ind 3 ind 4 < personal consumption > < government purchases > < investment > < export >
  • 29. Total economic output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output production + consumption = total output
  • 30. Some Examples of Input-Output Tables
  • 31. Here is the sex part…. < where jobs come from >
  • 32.
  • 33. Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < in each industry, it takes a certain number of people to create a dollar’s worth of total economic output >
  • 34. Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < if It takes .001 workers to create $1 of economic output, then,                               
  • 35. Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 Ind 2 ind 3 ind 4 < if It takes .001 workers to create $1 of economic output, then, with $1 billion of total industrial output, 1 million workers are required >
  • 36. Jobs are tied to total output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < changes in labor intensity or in total economic output create changes in numbers and kinds of jobs >
  • 37. Occupational employment is tied to total industrial output… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output ind 1 ind 2 ind 3 ind 4 < industries use different occupations > < industries use different labor intensities > < occupational employment differs by industry >
  • 38. Occupational employment is created.. … when people use their unique human capital to create goods & services
  • 40.
  • 41. Local uses of input-output analysis < producer & purchaser data > < multipliers >
  • 42. Multiplier A product of input-output analysis
  • 43. producer/purchaser data… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total output producers purchasers
  • 44.
  • 45. Producing & purchasing multiplies… ind 1 ind 2 ind 3 ind 4 ind 1 ind 2 ind 3 ind 4 final demand total demand
  • 46.
  • 47.
  • 48.
  • 49.
  • 50. Two types of multipliers type 1 = type 2 = direct + indirect direct direct + indirect + induced direct
  • 52.
  • 53.
  • 54. Waste/recycling multipliers for Pennsylvania
  • 55. Loss of opportunity Penn State research on: Community Costs of Technical Skills Deficits
  • 56. Quick response, regional impact Penn State research: Economic & Workforce Brief series
  • 57. Economic Impact Analysis with IMPLAN Rose M. Baker David L. Passmore