Hermannsson, Kristinn; McGregor, Peter G.; Swales, John Kim - 2013
We raise the issue of how appropriately to attribute economic impact to consumption expenditures. Despite the salience …-Output analysis consumption expenditures are either treated as wholly endogenous or wholly exogenous. For many applications, such as … those focusing on the impacts of tourism, benefits systems or student expenditures, these binomial assumptions are not …