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Input-Output Fundamentals House Ways & Means Committee September 22, 2011 Marc Baldwin, Ph.D.

Learn about inter-industry purchases & indirect links in economic impact analysis using Washington Input-Output data. Explore industry inputs & job impacts from an Input-Output Table. Identify issues & benefits of the model.

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Input-Output Fundamentals House Ways & Means Committee September 22, 2011 Marc Baldwin, Ph.D.

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  1. Input-Output Fundamentals House Ways & Means Committee September 22, 2011 Marc Baldwin, Ph.D. Office of Financial Management Marc.Baldwin@OFM.WA.Gov

  2. Inter-Industry Purchases Measure Indirect and Induced Links/Impact

  3. Washington Input-Output Table Sample Listing of Industry Inputs Input

  4. Job Impact Per $10M Output Increase (2008)

  5. Issues with Input-Output and Impact Modeling • Fixed coefficients – same impact with each additional dollar of increased demand. • Wages and prices don’t adjust with increased demand. • Can only do analysis for detailed industries in the table. • Cannot account for fundamental changes, only increased sales. • Localizing the national table creates errors. • And yet…large macro models have IO assumptions in them and IO is an extremely useful tool.

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