The monograph reviews U.K. economic studies, referring to the United States and other literature only briefly. The methodologies of impact studies are examined. These have developed along two separate routes; one has concentrated on the theory and the model-building process; the other has been concerned with the more practical aspects of estimating impacts, often with very strict time and budget constraints, which make the most rigorous methods prohibitive. Some researchers have been involved in both routes, usually by developing models and techniques and then using them for practical purposes. Undoubtedly this is desirable in terms of "best practice", and certainly where large scale models (such as input-output tables) exist the results of economic impact analysis are the most comprehensive. The setting up of these models is however extremely expensive and even then the model will probably always be some years out of date because of the lags between data collection and their incorporation into the model.
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