Transparent Tools. Defensible Insights.

Penn and Associates applies a suite of modeling frameworks to estimate economic impact with precision and clarity. Each tool is selected based on the client’s goals, available data, and the complexity of the economic relationships involved. We prioritize transparency—every model we use is documented, auditable, and tailored to reflect local realities.

What We Use—and Why

Penn CGE Model is a custom-built computable general equilibrium model that simulates how changes ripple through an economy—capturing sector interactions, price shifts, and resource constraints. It is best used for complex, multi-sector analyses where policy or investment affects supply chains, labor markets, or regional dynamics. We adjust inputs and assumptions to reflect local conditions. Every Economic Impact Report we provide includes clear explanations of methods, assumptions, and limitations. When applicable, we incorporate statistically valid survey data to ground estimates in real-world behavior.

RIMS II is a widely used input-output model from the U.S. Bureau of Economic Analysis. It estimates how spending in one industry affects others—based on historical relationships. It is best used for straightforward impact estimates for local spending, tourism, or construction projects.

SAM (Social Accounting Matrix) is a data-rich framework that expands input-output modeling to include households, government, and institutions—offering a fuller picture of economic flows. It is best used for projects where income distribution, household behavior, or public transfers are relevant.

TTSA (Tourism & Travel Satellite Account) is a specialized framework that isolates tourism’s contribution to the economy by tracking visitor spending across sectors. It is best used for tourism impact studies that require alignment with international standards or cross-sector analysis.

Survey Integration in Economic Modeling Penn and Associates brings decades of experience in survey design and behavioral analysis to economic impact reporting. We use probability-based sampling and classical statistical techniques to ensure that survey-derived insights are representative, valid, and complementary to model-based estimates. Surveys are offered in both Western and non-Western languages to ensure cultural relevance and broaden respondent reach. This integration humanizes economic narratives and enhances policy relevance.

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