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Evaluating the Short- and Long-run Economic Impacts of the Virginia-Maryland Regional College of Veterinary Medicine

Published online by Cambridge University Press:  28 April 2015

Binzhang Liu ,
Shukla Kshirsagar ,
Thomas Johnson ,
Craig Thatcher  and
George W. Norton
Binzhang Liu
Affiliation:
Virginia Tech
Shukla Kshirsagar
Affiliation:
Virginia Tech
Thomas Johnson
Affiliation:
University of Missouri
Craig Thatcher
Affiliation:
Virginia Tech
George W. Norton
Affiliation:
Virginia Tech
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Abstract

Colleges of veterinary medicine are often asked to provide evidence of the economic impacts of their activities. This paper presents methods for evaluating a veterinary college and applies them to the Virginia-Maryland Regional College of Veterinary Medicine. It assesses short-run impacts on income and employment using input-output analysis. Long-run benefits are estimated using a combination of economic surplus analysis, travel cost analysis and demand estimation, animal-owner willingness-to-pay based on a survey of practicing veterinarians, and earnings differentials.

Keywords

economic impact assessmenteconomic surplusinput-outputreturns to veterinary educationtravel cost method
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 33 , Issue 1 , April 2001 , pp. 49 - 57
Copyright
Copyright © Southern Agricultural Economics Association 2001

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