The controlled vocabulary of IMPLAN-specific terms.There are 207 entries in this glossary.
An account is a tool which records, for a given aspect of economic life, (a) the uses and resources or (b) the changes in assets and the changes in liabilities and/or (c) the stock of assets and liabilities existing at a certain time; the transactions accounts include a balancing item which is used to equate the two sides of the accounts (e.g. resources and uses) and which is a meaningful measure of economic performance in itself. (SNA)
Accumulation accounts are flow accounts that record the acquisition and disposal of financial and non-financial assets and liabilities by institutional units through transactions or as a result of other events. (SNA)
A grouping of one or more Events that represents a related spending change within the Study Area. Six types of Activities are available, falling into three main categories: production by industry (Industry, Construction, Retail), production of goods & services (Commodity), and institutional spending. (Household, Labor Income).
A multiple applied to all Event values within an Activity, which reflects the number of times the Event value is repeated to create the final demand change.
The combining of detailed subgroups to form a larger group. For example, detailed I-O items are aggregated to I-O commodities, and detailed industries are aggregated to summary industries and sectors for publication. (BEA)
Aggregation bias stems from the loss of detail that occurs when you aggregate a regionâs sectors before generating the multipliers. Multipliers are derived from output per worker averages, other value-added ratios, and the production functions of industries. When you aggregate a regionâs industries before generating multipliers, it has the effect of taking several individual Industries and combining them to form a totally new Industry. The production function and relationships of the new aggregated Industry becomes the weighted average of the individual production functions, with those industries with the greatest output levels having the greatest influence on the aggregated industry. Therefore, the new Industryâs production function may not truly represent an industry being impacted. This creates aggregation-induced error, or bias. Thus, it is typically recommended to aggregate the impact results rather than the model itself.
However, aggregating IMPLAN Sectors in a model can be useful for those who do not have specific Sector detail for their numbers or are working with a standard NAICS aggregation for their input data.
|Allocation of primary income account||
The allocation of primary income account focuses on resident institutional units or sectors in their capacity as recipients of primary incomes rather than as producers whose activities generate primary incomes; it lists two kinds of income under âresourcesâ: (a) primary incomes already recorded in the generation of income account that are receivable by resident institutional units, and (b) property incomes receivable from the ownership of financial or tangible non-produced assets (mainly land or sub-soil assets). (SNA)
An ancillary activity is a supporting activity undertaken within an enterprise in order to create the conditions within which the principal or secondary activities can be carried out; ancillary activities generally produce services that are commonly found as inputs into almost any kind of productive activity and the value of an individual ancillary activityâs output is likely to be small compared with the other activities of the enterprise (e.g. cleaning and maintenance of buildings). (SNA)
An ancillary corporation is a subsidiary corporation, wholly owned by a parent corporation, whose productive activities are ancillary in nature: that is, they are strictly confined to providing services to the parent corporation, or other ancillary corporations owned by the same parent corporation. (SNA)
Assets are entities functioning as stores of value and over which ownership rights are enforced by institutional units, individually or collectively, and from which economic benefits may be derived by their owners by holding them, or using them, over a period of time (the economic benefits consist of primary incomes derived from the use of the asset and the value, including possible holding gains/losses, that could be realised by disposing of the asset or terminating it). (SNA)
Auxiliaries are establishments whose employees are primarily engaged in providing various management or support services to one or more establishments of the same enterprise. Thus, within an enterprise, the auxiliary establishments are distinct from those establishments that are primarily engaged in producing goods and from those that are primarily engaged in providing services for personal or household use or for other enterprises. For example, an automotive repair shop or storage garage operated by an enterprise primarily for repair or storage of its own vehicles qualifies as an auxiliary. In addition to its primary activity of supporting the operations of the enterprise, an auxiliary may also provide services to the general public or to other business firms as a secondary activity. One major change introduced by NAICS is that auxiliaries are now treated as establishments classified by their production processes. Central Administrative Offices (CAOs) are included in NAICS 55, Management of Companies and Enterprises. Certain other auxiliaries are now treated as part of the industry that has a similar production function. For example, an accounting department that is a separate establishment would now be included in the accounting services industry. The services provided by auxiliaries are now included in output, measured by expenses to provide those services. Under the SIC, the services provided by auxiliary establishments were not included in output, and their expenses were included with the expenses of the industry served by the auxiliary. (BEA)
The interconnection of an industry to other industries from which it purchases its inputs in order to produce its output. It is measured as the proportion of intermediate consumption to the total output of the sector (direct backward linkage) or to the total output multiplier (total backward linkage). An industry has significant backward linkages when its production of output requires substantial intermediate inputs from many other industries. (BEA)
|Balance of payments||
The balance of payments is a statistical statement that systematically summarises, for a specific time period, the economic transactions of an economy with the rest of the world. (SNA)
The period that provides the weights for an index is described as the base period. (SNA)
Also \"basic value\". The price received by the producer for goods or services that are sold. It excludes taxes collected by the producer from purchasers, such as taxes that liquor manufacturers collect on behalf of government and sales taxes collected by retailers. In the I-O tables prepared by BEA, basic prices have excluded subsidies and included duties on imports. The 1993 System of National Accounts expands this definition to include subsidies. (See âBasic value tables.â) (BEA)