Helping you answer questions in the face of economic uncertainty
Get a deeper understanding of your local economy and introduce interventions for sustainable, inclusive, and resilient economic growth. The Economic Impact Explorer helps your team analyze data and assess the economic effects of disruptive policies and economic shocks (positive or negative).
Why do you need this?
Your Local Economy, Your Dashboard
An Economic Impact Explorer can be customized for your location and its specific policy and investment decisions in order to allow your team to explore the current economic composition of your economy, comparing outcomes across sectors and communities. Get it customized by adding new scenarios surrounding your policy decisions or in the face of external events that can have a negative or positive impact on your economy. The dashboard can be accessed through a secure private portal or embedded in a public website.
Connect the Dots
We update the Economic Impact Explorer as new data becomes available, making sure that the results remain up to date and the visualization reflects the best available information as it becomes available. Generate real-time reports that can inform decisions without the need to waste time on conducting research on direct and indirect impacts of events on economic parameters such as employment and production.
Insights to Results
Learn, evaluate and analyze the data. Utilize easy to access dashboard among team members and get insights on your screen
What is under the Hood?
Short-Term Under-capacity Dynamic Input-Output (STUDIO) model
The STUDIO model captures the interconnection between geographies and industries, which we calibrate using Input-Output (IO) Summary Tables, inter-provincial and international trade flow data and labour market data from existing government data. We then use the framework to estimate the economic impact of shock (for example COVID-19) over a 12-month period under alternative forward-looking scenarios about the speed of recovery, government policy, and medium-to-long term changes in consumer preferences etc.
Who is this for?
This dashboard helps in designing projections and expected outcomes of any business-as-usual scenario matched with unexpected shocks. So if you are a county, district, council, city, or even a state. This tool will help you to design a flexible framework for exploring a range of economic shocks. Find the solution that fits your desired community.
The data on the dashboard is updated at regular intervals or monthly. The assumption and scenarios are provided for over a year.
More details about STUDIO and the underlying economic theory can be found in the economic literature.