Gavel, Ricardo C.; Schwer, Keith R. Beyond rock and roll: The economic impact of the Grateful Dead on a local economy. Journal of Cultural Economics : 21 (1997) pp. 41-55

This paper begins with a very detailed discussion of Input-Output (IO) models and their use in measuring economic impacts. Additionally, it builds a case for using IO models in place of expensive econometric and general equilibrium models when analyzing short run events such as rock concerts.

The researchers performed a very careful statistical survey using a soda incentive. Additionally they established a control by having researchers approach every tenth person in random areas and ask them to assist in their survey. The researchers then categorized expected expense by sector of the economy, and created a range from conservative to optimistic in order to properly capture the possible inaccuracy of the survey technique they'd used. Using the Regional Input-Output Modeling System (RIMS) they discovered that, in addition to the direct immediate impacts, the concert created from $17 million to $28 million in new spending to the economy, generating from 346 to 589 sustained jobs.

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