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THE CLARION BUSINESS REVIEW

This paper represents an init ial update of a continuing project sponsored by the Bureau of Business and Economic Research in the College of Business Administration at Clarion University. The regional multiplier measuring the impact of Clarion University on the local community has been calculated periodically over the past two decades and has been found to vary between 3.17 and 2.00 in previous research. The changing business environment in the region, however, dictates that this analysis must be done on a more regular basis in order to incorporate these dynamic changes. In addition, improvements in estimation techniques can also be explored to update previous work. The regional multiplier is calculated using three methodological approaches. A standard input-output analysis utilizing a student spending survey is initially be explored. A second approach will utilize multipliers derived for specific industrial sectors and form a weighted average estimate as a proxy for the regional multiplier. If this multiplier is not statistically significantly different from the value found by the more comprehensive survey analysis, the standard inputoutput analysis will not need to be updated as frequently in the future. Finally, a vector autoregressive regression model will be utilized to develop impulse response functions important to analyzing long-run multiplier functions.