Multi-year analysis Events
I prepare an impact estimate for a local sports team annually. I just report total output. It is the 10 year anniverary for the team's stadium and they would like to present an impact estimate for the entire time. What would be the best way to prepare this? Can I just total up each year? Should I adjust all years to 2016 dollars? Should I add data for each year into the current model?
Thanks for your help.
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Hi Ruth! Thank you for your Forum post. This is a great study and a wonderful way to commemorate the stadium's anniversary. You certainly can total up each year's Total Output, we would recommend changing the Dollar Year for View to 2016, so that you are reporting in the same dollar for all years. An added benefit from conducting the analysis in this manner, is that the integrity of each year's analysis is kept. Another option is to rerun each year's impact using the actual data year to build the model, using the specific Event Year from that year but then reporting the results in 2016 dollars. It is important to have the results in current year’s dollars before summing because different year’s dollars represent different inflation rates. If you are looking at other factors, for example Employment- you would not want to add the jobs, jobs are not summative. Thanks!
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