I used the BEA's RIMS-II in the past and am now trying I-RIMS. I am an economist and am trying to find the economic impact of the local county fair. I want a simple analysis as that would be best for the people who have asked me to examine the issue. The fair spent about $2.5 million last year. I looked at the multipliers for 62 industries and thought that industry 57, Performing arts, spectator sports, museums, zoos and parks would be the closest. For my county, the final demand output multiplier is about 1.49. 1. Can I multiply $2.5 million by 1.49 to get the change in output due to the fair in 2015? 2. Can I multiply $2.5 million by the final demand earnings multiplier to get the change in earnings? 3. Can I multiply $2.5 million by the final demand value added multiplier to get the changes in value added? 4. I understand that the employment multiplier is based on 2013 prices. If I deflate $2.5 million by the deflator that was provided, can I multiple the deflated figure (in 2013 $'s) by the employment multiplier to get the change in employment? 5. Do I use the result in number 2 above and multiply that by the direct-effect earnings multiplier to get the additional earnings caused by the additional earrings? 6. Is the sum of the net change in earnings due to the fair the sum of numbers 2 and 5? 7. Do I use the result in number 4 above and multiply that by the direct-effect employment multiplier to get the additional employment caused by the original change in employment? 8. Is the sum of the net change in employment due to the fair the sum of number 4 and 7? This newbie appreciates any advice you can lend me. Feel free to contact me at email@example.com Thanks, Bob Gitter
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