Over the last two decades, global economic integration has connected numerous countries and sectors around the world. The World Input Output Database (WIOD) collects data on domestic output production and use in 59 industries across 40 nations, accounting for 85 percent of global output. IO analysis was used to compute the additional production from each other sector required to supply the increased U.S. ATS growth using 2010 U.S. Air Transportation Services (ATS) industry growth as a proxy for change in the final demand variable. For descriptive analysis, forecasting, and assessment of policy effect scenarios, IO analysis is useful. Because ATS accounts for less than 1% of US GDP, this narrow investigation failed to reveal any significant industry trends. Agriculture, mining, transportation and warehousing, and various manufacturing and service industries were among the aggregate GDP sectors that benefited from the U.S. ATS industry’s expansion. Construction, finance, insurance, and real estate, wholesale and retail trade, and other service sectors were the aggregate GDP sectors that received a negative boost from expansion in the US ATS industry.
Author(S) Details
Kelly Whealan George
Embry Riddle Aeronautical University, USA.
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