GDP Link

Comments

3 comments

  • Avatar
    IMPLAN Support
    Hi Scott, Here is the 2012 Deflator sheet. The GDP deflators are highlighted in green on the top row. Please let us know if you need anything else. --Implan Support Staff
    0
    Comment actions Permalink
  • Avatar
    sdm
    One more question on GDP. Glossary "Deflators are used by the software whenever the Event Year is set to a year that differs from the model data year. The Output Deflator converts the Industry Sales value to the year of the data set, while the GDP Deflator converts the Value-Added values to the year of the data set." Then if we set an event to 2017 is it correct to state the output, value added, and labor income are in 2017 chained dollars? Is this the same terminology as what would be understood say in finance/investment circles. Finally, how does the deflator impact indirect and induced? Are these GDP deflated or is the process slightly different? The issue is I have investors asking questions since this is a scenario prediction of sorts.
    0
    Comment actions Permalink
  • Avatar
    IMPLAN Support
    Hi Scott. The Event Year you select should correspond to the dollar-year in which your event values are measured. So, if you have values in 2017 dollars, set the event year to 2017, then enter your values. The output and value-added deflators will adjust your input values to the year of the data in your model before running the model. After running your model(s), you can adjust the "Dollar Year for View" to the dollar-year in which you would like to report results. If you're asking whether the output, value added, and labor income impacts in your scenario results are in 2017 dollars, the answer is not necessarily. They are in whatever dollar-year is specified in the "Dollar Year for View" field. The software defaults to the current year, so if you set the event year to 2017, entered values in 2017 dollars, and didn't adjust the "Dollar Year for View," your values would be in 2014 dollars. You could put them in 2017 dollars by changing the "Dollar Year for View." Direct, indirect, and induced impacts are treated the same, insofar as industry/commodity-specific output deflators are applied to intermediate industry sales and value-added deflators are applied to components of value-added, e.g. labor income. If you view the results in $2017 those are "current year" dollars (as opposed to a constant year value). Current year dollars to 2022 are projections from the BLS employment growth model and I can't say if they used chained deflators. Thanks!
    0
    Comment actions Permalink

Please sign in to leave a comment.