The set of expenditures applied to the predictive model (i.e. I-O multipliers) for impact analysis. It is a series (or single) of production changes or expenditures made by producers/consumers as a result of an activity or policy. These initial changes are determined by an analyst to be a result of this activity or policy. Applying these initial changes to the multipliers in an IMPLAN model will then display how the region will respond, economically to these initial changes.
A consumption good or service is one that is used (without further transformation in production) by households, NPISHs or government units for the direct satisfaction of individual needs or wants or the collective needs of members of the community. (SNA)
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 dataset, while the GDP Deflator converts the Value-Added values to the year of the dataset. Output Deflators are specific to each industry, while the GDP Deflators are the same across industries. You can see the deflator values in the Setup Activities screen when the Event Year field is displayed (Event Options Show Event Year). The BEA has historical GDP and Output deflators which we use for our historical and current Output Deflators. For projections into the future, we use the annual rate of change in output from the BLS’ employment growth model.
More information on Deflators and Margins
Consumption is an activity in which institutional units use up goods or services; consumption can be either intermediate or final. (SNA)
Consumer durables are durable goods acquired by households for final consumption (i.e. those that are not used by households as stores of value or by unincorporated enterprises owned by households for purposes of production); they may be used for purposes of consumption repeatedly or continuously over a period of a year or more. (SNA)
Constant prices are obtained by directly factoring changes over time in the values of flows or stocks of goods and services into two components reflecting changes in the prices of the goods and services concerned and changes in their volumes (i.e. changes in “constant price terms”). (SNA)
One of the three fundamental principles underlying the I-O accounts. Under this principle, the data compiled from one source are comparable with the data compiled from another source. For example, in accordance with this principle, the estimates shown in the I-O accounts should be consistent with the underlying source data and with the estimates shown in the national accounts. In the United States, NAICS provides a consistent basis for classification that enables comparisons across the broad range of economic statistics. The other two principles are homogeneity and proportionality. (BEA)
Economic input output
modeling application, data,
and solutions.
