scholarly journals Modelling the economic impacts of a large event: The case of the Gold Coast 2018 Commonwealth Games

2019 ◽  
Vol 26 (01) ◽  
pp. 110-127
Author(s):  
Tien Pham ◽  
Susanne Becken ◽  
Michael Powell
Keyword(s):  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Economic Impacts ◽  
Gold Coast ◽  
Crowding Out ◽  
Economic Impact Analysis ◽  
Gross State Product ◽  
Modelling Techniques ◽  
Pros And Cons ◽  
Commonwealth Games

AbstractThis article consolidates the pros and cons of the two common modelling techniques for economic impact analysis: the input–output multiplier and the computable general equilibrium (CGE) technique. The latter is recommended for large event assessment and was used to examine the economic impacts of the Gold Coast 2018 Commonwealth Games. The Games is estimated to have generated approximately A$2.5 billion of gross state product (GSP) to Queensland after netting out the costs incurred. The effect is spread over a period of nine years from pre-Games period of preparation for the Games, through the Games period itself, and then rather significantly in the post-Games period. While benefits accrue to Queensland, the rest of Australia is estimated to lose due to the so-called ‘crowding out effect’.

Economic impacts of changes in the forestry sector: A case study of the Foothills region in Alberta

1999 ◽  
Vol 75 (1) ◽  
pp. 121-127 ◽  
Author(s):  
Janaki R. R. Alavalapati ◽  
William White ◽  
Mike Patriquin
Keyword(s):  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Regional Economics ◽  
Economic Impacts ◽  
Forest Products ◽  
Computable General Equilibrium Model ◽  
Local Economy ◽  
Forest Sector ◽  
Economic Impact Analysis ◽  
Negative Impacts

Economic impacts of a reduction in the annual allowable cut and in the price of forest products on the Foothills Model Forest regional economy are examined. A two-sector computable general equilibrium model is developed for the region to do this task. The results indicate that these changes cause significant negative impacts on the forest sector and on the local economy. Results show that other sectors of the economy will expand in response to the above changes in the forest sector. However, the expansion cannot offset the reduction in the forest sector and thus local communities sustain reduction in their income. The results are sensitive to the assumptions about markets for factors. Key words: economic impact analysis, CGE modeling, regional economics, community stability

scholarly journals Economic Impact of Drought- and Shade-tolerant Bermudagrass Varieties

2018 ◽  
Vol 28 (1) ◽  
pp. 66-73 ◽  
Author(s):  
Chanjin Chung ◽  
Tracy A. Boyer ◽  
Marco Palma ◽  
Monika Ghimire
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Cynodon Dactylon ◽  
Economic Impacts ◽  
Value Added ◽  
The United States ◽  
Economic Benefits ◽  
Total Output ◽  
Economic Impact Analysis ◽  
New Varieties

This study estimates potential economic impacts of developing drought- and shade-tolerant bermudagrass (Cynodon dactylon) turf varieties in five southern states: Texas, Florida, Georgia, Oklahoma, and North Carolina. First, estimates are provided for the market-level crop values of the newly developed two varieties for each state. Then, an economic impact analysis is conducted using an input–output model to assess additional output values (direct, indirect, and induced impacts), value added, and employment due to the new varieties. Our results indicate that the two new varieties would offer significant economic impacts for the central and eastern regions of the United States. Under the assumption of full adoption, the two new products would generate $142.4 million of total output, $91.3 million of value added, and 1258 new jobs. When a lower adoption rate is assumed at 20%, the expected economic impacts would generate $28.5 million of output, $18.3 million of value added, and 252 jobs in the region. Our findings quantify the potential economic benefits of development and adoption of new turfgrass varieties with desirable attributes for residential use. The findings suggest that researchers, producers, and policymakers continue their efforts to meet consumers’ needs, and in doing so, they will also reduce municipal water consumption in regions suited to bermudagrass varieties.

scholarly journals Study Area Specification in Forestry Economic Impact Analysis: Modifying County-Level Secondary Data

1999 ◽  
Vol 16 (3) ◽  
pp. 129-136
Author(s):  
John C. Leatherman ◽  
David W. Marcouiller
Keyword(s):  
Impact Analysis ◽  
Economic Impacts ◽  
Secondary Data ◽  
Input Output ◽  
Resource Base ◽  
Forest Management Planning ◽  
Economic Impact Analysis ◽  
Political Boundaries ◽  
Resource Policy ◽  
Data Files

Abstract One of the important objectives of forest management planning is to enhance the beneficial economic impacts of resource policy decisions. Input-output is one of the common tools planning analysts use to assess economic impacts. This paper presents procedures whereby the county data files for the Micro-IMPLAN input-output modeling system can be adjusted to create economic models at a finer level of geographic specificity than county-based models. Models specified to the minor civil division level can permit closer evaluation of resource policy impacts on regions defined by resource-base rather than administrative or political boundaries. North. J. Appl. For. 16(3):129-136.

scholarly journals Evaluating Special Events: Merging Two Essential Approaches

2019 ◽  
Vol 23 (6) ◽  
pp. 897-911
Author(s):  
Larry Dwyer ◽  
Peter Forsyth
Keyword(s):  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Hybrid Approach ◽  
Cost Benefit ◽  
Evaluation Process ◽  
Economic Impact Analysis ◽  
Special Events ◽  
Benefit Estimation ◽  
General Equilibrium Modeling

In special event evaluation, given the shift away from standard economic impact analysis based on input–output modeling, increased attention is being paid to the roles that computable general equilibrium modeling (CGE) and cost–benefit analysis (CBA) can play in event evaluation. This article analyzes the strengths and limitations of CGE and CBA in the context of event assessment. A "hybrid" approach is outlined which includes a role for the advantages of both techniques to be included in the evaluation process. The issues addressed are theoretically important for both impact and benefit estimation, while having significant practical implications for event assessment.

Economic assessment of special events: a perspective article

2019 ◽  
Vol 75 (1) ◽  
pp. 191-193 ◽  
Author(s):  
Larry Dwyer
Keyword(s):  
Economic Impact ◽  
Computable General Equilibrium ◽  
Best Practice ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Economic Assessment ◽  
Important Conclusion ◽  
Content Type ◽  
Economic Impact Analysis ◽  
Special Events

Purpose This paper aims to provide a perspective on the economic assessment of special events. Design/methodology/approach Three main approaches to the economic evaluation of special events are distinguished. These are: standard economic impact analysis, computable general equilibrium modelling, and cost benefit analysis. An historical account of the use of these approaches is given together with a discussion of the advantages and limitations of each. Findings An important conclusion is that the evaluation of special events should go beyond economic impact analysis in favour of a more comprehensive “hybrid” assessment. Originality/value The paper puts event evaluation into perspective and points to a promising future direction of study. An expected outcome of the use of hybrid models is a narrowing of the divide between practitioners and theorists regarding best practice event evaluation to the benefit of all stakeholders.

Comparing approaches to economic impact analysis of property redevelopment

2015 ◽  
Vol 33 (4) ◽  
pp. 362-373
Author(s):  
Christopher Hannum
Keyword(s):  
Real Estate ◽  
Economic Impact ◽  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Property Development ◽  
Content Type ◽  
Economic Impact Analysis ◽  
Mixed Use ◽  
Cge Modeling ◽  
Construction Activity

Purpose – The purpose of this paper is to demonstrate the value of computable general equilibrium (CGE) modeling for impact analysis of real estate developments and redevelopments. Design/methodology/approach – Uses a model constructed for Colorado to compare estimates of economic impact of a hypothetical mixed-use development from a CGE model with an input-output (IO) model similar to those commonly used in applied economic impact analysis. Findings – Economic impact estimates of construction activity are demonstrated to be lower when using a CGE approach as compared to an IO approach while impact estimates of continuing operations of a property are demonstrated to be more accurate and potentially higher using a CGE approach. Practical implications – A CGE approach as opposed to an IO approach will be particularly useful for practitioners in particular cases where IO models are ill suited to provide meaningful estimates concerning impact of continuing operations. This is especially likely where commercial tenants are unknown or when the development includes a residential component. Social implications – More complete and accurate assessments of economic impact may positively affect views on property development and redevelopment by the public and government. Originality/value – This paper adds to the existing literature concerning economic impact analysis of real estate and is the first paper in the field, to the authors’ knowledge; to compare estimates from the standard IO approach to those derived using more sophisticated modeling techniques.

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