Economic output
A newly developed urban object or urban environment will generate in most cases economic activities. These economic impacts can be measured in terms of :
- Total employment
- Gross value added
- Business_output
- Household income (aggregate wages and salaries)
- Wealth (including property values)
- Public (tax) income (income tax, social contributions, value added tax, profit tax, etc.)
- Public expenditure (investments, salaries, social welfare expenses, etc.)
Each of these economic output measures reflects a particular dimension of change in the economic activity in a particular area as is illustrated by the figure below:
Notice that the public income and public expenditures are included while they also could be considered to be ˜financial output". Furthermore, the various measures of economic impact are overlapping[1]. An increase in business activity, for example, will generate income for its employees, profit for its owners, and tax income for the public authorities. For this reason, the different measures cannot be added together to calculate the total economic impact.
Footnotes and references
- ↑ B. and G. Weisbrod (1997). Measuring economic impacts of projects and programs. Economic Development Research Group.
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