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The Economic Impact of Small Colleges on Local Economies: A Guide to Attainable Data and Best Practices

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  • Christelle Khalaf
  • G. Jason Jolley
  • Candi Clouse

Abstract

This article outlines a practical standard of university economic impact analyses for small colleges. The needs of small colleges greatly differ from those of large universities, as they are typically dependent on in-house resources to conduct economic impact analyses. These financial limitations create a need for suitable, publicly available data that can substitute for primary, costly data collection, as well as guidelines on best practices for researchers or practitioners who may not be experts in input–output methodology. The article reviews the foundations of economic impact analysis and then discusses fundamental modeling decisions. The suggested practices are illustrated using two small colleges in Ohio as case studies.

Suggested Citation

  • Christelle Khalaf & G. Jason Jolley & Candi Clouse, 2022. "The Economic Impact of Small Colleges on Local Economies: A Guide to Attainable Data and Best Practices," Economic Development Quarterly, , vol. 36(1), pages 17-32, February.
    • Handle: RePEc:sae:ecdequ:v:36:y:2022:i:1:p:17-32
    DOI: 10.1177/08912424211033655
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    1. Clouse, Candi & Thorvaldson, Jenny & Jolley, G. Jason, 2023. "Impact Factors: Methodological Standards for Applied Input-Output Analysis," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 53(2), September.
    2. David Kay & G. Jason Jolley, 2023. "Using input–output models to estimate sectoral effects of carbon tax policy: Applications of the NGFS scenarios," American Journal of Economics and Sociology, Wiley Blackwell, vol. 82(3), pages 187-222, May.
    3. Tuyen PHAM, 2024. "Catalyzing Economic And Environmental Insights: Applications Of Implan'S Environmentally Extended Input-Output (Eeio) Modeling For Energy Production Scenarios," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 99-106, June.

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