IDEAS home Printed from https://ideas.repec.org/a/ags/jrapmc/339928.html
   My bibliography  Save this article

Evaluating the Accuracy of Regional Economic Impact Estimates: Considering a 2013 Beef Plant Closure in Texas

Author

Listed:
  • Dudensing, Rebekka
  • Guerrero, Bridget
  • Amosson, Steve

Abstract

Many studies rely on regional economic impact analysis to estimate the larger effects of an event on a community, such as a plant opening or closure. However, few conduct an ex post analysis to consider how close the estimates were to actual economic events that ensued. This study examines the accuracy of a previous impact analysis of the closure of a Texas beef packing plant. The challenges of validating economic impact studies are demonstrated and several suggestions are offered for improving ex ante and ex post modeling efforts to help future researchers maintain the credibility of economic impact studies.

Suggested Citation

  • Dudensing, Rebekka & Guerrero, Bridget & Amosson, Steve, 2019. "Evaluating the Accuracy of Regional Economic Impact Estimates: Considering a 2013 Beef Plant Closure in Texas," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 49(01), May.
    • Handle: RePEc:ags:jrapmc:339928
    DOI: 10.22004/ag.econ.339928
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/339928/files/Dudensing.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.339928?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kinnaman, Thomas C., 2011. "The economic impact of shale gas extraction: A review of existing studies," Ecological Economics, Elsevier, vol. 70(7), pages 1243-1249, May.
    2. Reimer, Jeffrey J. & Williams, Gary W. & Dudensing, Rebekka M. & Kaiser, Harry M., 2017. "Agricultural Export Promotion Programs Create Positive Economic Impacts," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 32(3), July.
    3. Swenson, David A., 2006. "Input-Outrageous: The Economic Impacts of Modern Biofuels Production," Staff General Research Papers Archive 12644, Iowa State University, Department of Economics.
    4. Jinwon Bae & Sandy Dall'erba, 2016. "The economic impact of a new solar power plant in Arizona: Comparing the input-output results generated by JEDI vs. IMPLAN," Regional Science Policy & Practice, Wiley Blackwell, vol. 8(1-2), pages 61-73, March.
    5. Shields, Martin & Deller, Steven C., 1998. "Commuting's Effect on Local Retail Market Performance," The Review of Regional Studies, Southern Regional Science Association, vol. 28(2), pages 71-90, Fall.
    6. repec:cup:jagaec:v:40:y:2008:i:1:p:253-265_5 is not listed on IDEAS
    7. Schwarm, Walter R. & Jackson, Randall W. & Okuyama, Yasuhide, 2006. "An Evaluation of Method for Constructing Commodity by Industry Flow Matrices," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 36(01), pages 1-10.
    8. Daniel G. De La Torre Ugarte & Burton C. English & Kim Jensen, 2007. "Sixty Billion Gallons by 2030: Economic and Agricultural Impacts of Ethanol and Biodiesel Expansion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(5), pages 1290-1295.
    9. Hughes, David W. & Brown, Cheryl & Miller, Stacy & McConnell, Tom, 2008. "Evaluating the Economic Impact of Farmers' Markets Using an Opportunity Cost Framework," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(1), pages 253-265, April.
    10. Dan S. Rickman & R. Keith Schwer, 1993. "A Systematic Comparison Of The REMI and IMPLAN Models: The Case Of Southern Nevada," The Review of Regional Studies, Southern Regional Science Association, vol. 23(2), pages 143-162, Fall.
    11. Chang K. Seung, 2014. "Estimating effects of exogenous output changes: an application of multi-regional social accounting matrix (MRSAM) method to natural resource management," Regional Science Policy & Practice, Wiley Blackwell, vol. 6(2), pages 177-193, June.
    12. Gordon Mulligan & Randall Jackson & Amanda Krugh, 2013. "Economic base multipliers: a comparison of ACDS and IMPLAN," Regional Science Policy & Practice, Wiley Blackwell, vol. 5(3), pages 289-303, August.
    13. Kebede, Ellene & Ngandu, Mudiayi Sylvain, 1999. "The Economic Impact Of The Mercedes Benz Investment On The State Of Alabama," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 31(2), pages 1-12, August.
    14. Kebede, Ellene & Ngandu, Mudiayi Sylvain, 1999. "The Economic Impact of the Mercedes Benz Investment on the State of Alabama," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 31(2), pages 371-382, August.
    15. Harry M. Kaiser, 2016. "An economic analysis of the Cattlemen's Beef Promotion and Research Board demand-enhancing programmes," Applied Economics, Taylor & Francis Journals, vol. 48(4), pages 312-320, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lester, T. William & Little, Mark G. & Jolley, G. Jason, 2015. "Assessing the Economic Impact of Alternative Biomass Uses: Biofuels, Wood Pellets, and Energy Production," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(01).
    2. Lei Zhang & Henry Kinnucan & Jing Gao, 2016. "The Economic Contribution of Alabama’s Automotive Industry to Its Regional Economy," Economic Development Quarterly, , vol. 30(4), pages 295-315, November.
    3. Gabe, Todd & McConnon, James C., 2018. "Popping the Question: The In uence of Survey Design on Estimated Visitor Spending in a Region," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 48(4), August.
    4. Zsófia Benedek & Imre Fertő & Viktória Szente, 2020. "The Multiplier Effects of Food Relocalization: A Systematic Review," Sustainability, MDPI, vol. 12(9), pages 1-18, April.
    5. Virginia Di Nino & Ivan Faiella, 2013. "The �new� non-conventional hydrocarbons: the solution to the energy conundrum?," Questioni di Economia e Finanza (Occasional Papers) 205, Bank of Italy, Economic Research and International Relations Area.
    6. Grant Allan & Kevin Connolly & Peter McGregor & Andrew G Ross, 2019. "Economic activity supported by offshore wind: a hypothetical extraction study," Working Papers 1911, University of Strathclyde Business School, Department of Economics.
    7. Marc Mueller & Emanuele Ferrari, 2012. "Social Accounting Matrices and Satellite Accounts for EU27 on NUTS2 Level (SAMNUTS2)," JRC Research Reports JRC73088, Joint Research Centre.
    8. Juan C. Surís-Regueiro & José L. Santiago, 2016. "An Input-Output methodological proposal to quantifying socio economic impacts linked to supply shocks," Working Papers 1603, Universidade de Vigo, Departamento de Economía Aplicada.
    9. Dan S. Rickman, 2001. "Using Input-Output Information for Bayesian Forecasting of Industry Employment in a Regional Econometric Model," International Regional Science Review, , vol. 24(2), pages 226-244, April.
    10. Nuria Gallego & Carlos Llano, 2014. "The Border Effect and the Nonlinear Relationship between Trade and Distance," Review of International Economics, Wiley Blackwell, vol. 22(5), pages 1016-1048, November.
    11. Burnett, J. Wesley, 2015. "FOREWORD: Unconventional Oil and Gas Development: Economic, Environmental, and Policy Analysis," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 44(2), pages 1-15, August.
    12. Jeffrey K. O'Hara & Nony Dutton & Nick Stavely, 2022. "The influence of farmers markets' characteristics on vendor sales," Agribusiness, John Wiley & Sons, Ltd., vol. 38(2), pages 295-311, April.
    13. Watson, Philip & Cooke, Stephen & Kay, David & Alward, Greg & Morales, Alfonso, 2017. "A Method for Evaluating the Economic Contribution of a Local Food System," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 42(2), May.
    14. Andrzej Torój, 2016. "Regional Economic Impact Assessment with Missing Input-Output Data: A Spatial Econometrics Approach for Poland," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 8(2), pages 61-91, June.
    15. Seung, Chang K., 2017. "A Multi-regional Economic Impact Analysis of Alaska Salmon Fishery Failures," Ecological Economics, Elsevier, vol. 138(C), pages 22-30.
    16. Carlos E. Carpio & Olga Isengildina-Massa, 2009. "Consumer willingness to pay for locally grown products: the case of South Carolina," Agribusiness, John Wiley & Sons, Ltd., vol. 25(3), pages 412-426.
    17. Loughrey, Jason & O’Donoghue, Cathal & Meredith, David & Murphy, Ger & Shanahan, Ultan & Miller, Corina, 2018. "The Local Impact of Cattle Farming," 166th Seminar, August 30-31, 2018, Galway, West of Ireland 276231, European Association of Agricultural Economists.
    18. Murakami, Tomoaki & Nakajima, Shinsaku & Takahashi, Taro & Nishihara, Yukinaga & Imai, Asako & Kikushima, Ryousuke & Sato, Takeshi, 2014. "Spatially Varying Impacts of Farmers Markets on Agricultural Land Use," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170668, Agricultural and Applied Economics Association.
    19. Timothy W. Kelsey & Mark D. Partridge & Nancy E. White, 2016. "Unconventional Gas and Oil Development in the United States: Economic Experience and Policy Issues," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 38(2), pages 191-214.
    20. Philip B. Whyman, 2018. "The local economic impact of shale gas extraction," Regional Studies, Taylor & Francis Journals, vol. 52(2), pages 184-196, February.

    More about this item

    Keywords

    Livestock Production/Industries;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:jrapmc:339928. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/mcrsaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.