Affiliation:
1. University of Texas at El Paso, USA
2. Erasmus University, Rotterdam, The Netherlands
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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