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Consumption expenditures in economic impact studies: an application to university students

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  • Kristinn Hermannsson

    ()
    (Department of Economics, University of Strathclyde)

  • Peter G McGregor

    ()
    (Department of Economics, University of Strathclyde)

  • J Kim Swales

    ()
    (Department of Economics, University of Strathclyde)

Abstract

This paper examines how appropriately to attribute economic impact to consumption expenditures. Consumption expenditures are often treated as either wholly endogenous or wholly exogenous, following a distinction from Input-Output analysis. For many applications, such as those focusing on the impacts of tourism or benefits systems, such binomial assumptions are not satisfactory. We argue that consumption is neither wholly endogenous nor wholly exogenous but that the degree of this distinction is rather an empirical matter. We set out a general model for the treatment of consumption expenditures and illustrate its application through the case of university students. We examine individual student groups and how the impacts of students at particular institutions. Furthermore we take into account the binding budget constraint of public expenditures (as is the case for devolved regions in the UK) and examine how this affects the impact attributed to students' consumption expenditures.

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File URL: http://www.strath.ac.uk/media/departments/economics/researchdiscussionpapers/2013/13-14_FINAL.pdf
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Bibliographic Info

Paper provided by University of Strathclyde Business School, Department of Economics in its series Working Papers with number 1314.

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Length: 24 pages
Date of creation: Aug 2013
Date of revision:
Publication status: Published
Handle: RePEc:str:wpaper:1314

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Keywords: Input-output; Impact; Higher Education; Students; Expenditures;

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  1. Kristinn Hermannsson & Katerina Lisenkova & Peter G. McGregor & J. Kim Swales, 2014. "'Policy Scepticism' and the Impact of Scottish Higher Education Institutions (HEIs) on their Host Region: Accounting for Regional Budget Constraints under Devolution," Regional Studies, Taylor & Francis Journals, vol. 48(2), pages 400-417, February.
  2. Peter McGregor & Patrizio Lecca & Kim Swales, 2012. "Balanced Budget Government Spending in a Small Open Regional Economy," ERSA conference papers ersa12p1009, European Regional Science Association.
  3. Hermannsson, Kristinn & Lisenkova, Katerina & McGregor, Peter G & Swales, J Kim, 2010. "The Expenditure Impacts of Individual Higher Education Institutions (HEIs) and their Students on the Scottish Economy under Devolution: Homogeneity or Heterogeneity?," SIRE Discussion Papers 2010-64, Scottish Institute for Research in Economics (SIRE).
  4. Brownrigg, M, 1973. "The Economic Impact of a New University," Scottish Journal of Political Economy, Scottish Economic Society, vol. 20(2), pages 123-39, June.
  5. Alex Christie & J. Kim Swales, 2010. "The Barnett Allocation Mechanism: Formula Plus Influence?," Regional Studies, Taylor & Francis Journals, vol. 44(6), pages 761-775.
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