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The Economic Impact of COVID-19 in the Air Transportation Industry: Estimates From a Regional Input-Output Model

The Economic Impact of COVID-19 in the Air Transportation Industry: Estimates From a Regional Input-Output Model

Rafael Perez, Ana Cecilia Camargo
Copyright: © 2022 |Pages: 16
ISBN13: 9781799888406|ISBN10: 1799888401|ISBN13 Softcover: 9781799888413|EISBN13: 9781799888420
DOI: 10.4018/978-1-7998-8840-6.ch005
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MLA

Perez, Rafael, and Ana Cecilia Camargo. "The Economic Impact of COVID-19 in the Air Transportation Industry: Estimates From a Regional Input-Output Model." Challenges and Opportunities for Transportation Services in the Post-COVID-19 Era, edited by Giuseppe Catenazzo, IGI Global, 2022, pp. 88-103. https://doi.org/10.4018/978-1-7998-8840-6.ch005

APA

Perez, R. & Camargo, A. C. (2022). The Economic Impact of COVID-19 in the Air Transportation Industry: Estimates From a Regional Input-Output Model. In G. Catenazzo (Ed.), Challenges and Opportunities for Transportation Services in the Post-COVID-19 Era (pp. 88-103). IGI Global. https://doi.org/10.4018/978-1-7998-8840-6.ch005

Chicago

Perez, Rafael, and Ana Cecilia Camargo. "The Economic Impact of COVID-19 in the Air Transportation Industry: Estimates From a Regional Input-Output Model." In Challenges and Opportunities for Transportation Services in the Post-COVID-19 Era, edited by Giuseppe Catenazzo, 88-103. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-7998-8840-6.ch005

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Abstract

Public policy design plays a significant role in alleviating the economic effects caused by this pandemic in local economies across the globe. This chapter suggests the use of input-output analysis (IO) to provide guidelines to stakeholders and policy makers in the air transportation sector to address economic concerns during the pandemic and in the post-pandemic era. IO is helpful in estimating the economic effects of COVID-19 pandemic in the air transportation sector and allows to estimate its impact on other economic sectors in a local economy. Output, value added, employment, and personal income are the variables estimated through IO. The chapter applies IO technique to evaluate the economic impact of COVID-19 on the air transportation sector in Austin, Texas. Impact estimates suggest a total loss of $1.02 billion USD in Austin MSA's economy in 2020; the number of jobs lost are estimated at 3.87 thousand and the total loss in personal income at $229.97 million USD in Austin MSA in 2020. Lastly, the value-added loss in Austin MSA is estimated at $514.20 USD in 2020.

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