Taxes on Production & Imports less Subsidies (TOPI)

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Taxes on Production & Imports less Subsidies (TOPI) is one of the four components of Value Added.  It includes sales and excise taxes, customs duties, property taxes, motor vehicle licenses, severance taxes, other taxes, and special assessments.  

Because TOPI is net of subsidies, it can be negative for a given Industry in a given year if that industry received more subsidies from the government than it paid out in these specific taxes in that year. 

 I-O models by default treat TOPI as a leakage, meaning that any TOPI generated as part of an analysis will not generate any additional effects.  

Note: TOPI does not include all taxes paid by an industry.  For example, social insurance taxes are a part of Employee Compensation, and profits taxes are part of Other Property Income. 

System of National Accounts (SNA)

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An international set of guidelines for a system of economic accounts. The SNA organizes information about the flows and stocks that represent an economy within a comprehensive, integrated framework. The 1993 SNA was published by the Inter-Secretariat Working Group for the National Accounts (Commission for the European Communities, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations, and World Bank). The next update of the SNA is scheduled for 2008. (BEA)
 

Supplements to wages and salaries

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Employer contributions for social insurance funds and for other labor income. Supplements are a part of the value-added component “compensation.” (BEA)
 
 

Standard Industrial Classification (SIC)

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System for grouping economic activities using the operating establishment as the basic production unit. The SIC system assigns each establishment an industry code on the basis of its primary activity, which is the establishment\’s principal product or group of products produced or distributed or services rendered. Beginning with the 1997 benchmark, the SIC was replaced by NAICS as the basis for I-O industry and commodity classification. (BEA)

Spending Pattern Events

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Spending Pattern Events are most appropriate to use when an analyst has the data required to build a customized spending pattern which reflects specific purchases by an industry or when the ratios in an industry’s output equation must be modified to a degree beyond that which is achievable by simply customizing an Industry Event.  Spending Patterns include all Intermediate Expenditures for a given Industry.

Special I-O industries/commodities

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Industries/commodities that are provided for in the I-O industry classification system but are not included in the SIC or NAICS. In the 1997 benchmark accounts, they consisted of both industries and commodities for the inventory valuation adjustment and owner-occupied housing and of commodities for non-comparable imports, for scrap, used and secondhand goods, and for the rest-of-the-world adjustment to final uses. I-O special industries/commodities are incorporated to maintain consistency with economic concepts underlying the NIPAs. (BEA)
 
 

Social Accounts

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A set of annually derived values for a Study Area that show its non-industry transactions (payments made between households and households, households and governments, etc.).

Social Accounting Matrix (SAM) Model

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IMPLAN expands upon the traditional I-O approach to also include transactions between industries and institutions and between institutions themselves, thereby capturing all monetary market transactions in a given time. IMPLAN can thus more accurately be described as a Social Account Matrix (SAM) model, though the terms I-O and SAM are often used interchangeably.

Sector

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In the national economic accounts, the institutional units that make up the total economy: Business, households and institutions, and general government. In NAICS, one of the 20 major areas of economic activity. The sectors are generally the two-digit NAICS level—though manufacturing, retail, and transportation and warehousing span several two-digit codes. (BEA)
 
 

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