Characteristics of Consumption Changes in Alignment with Renovation Investments of Immovable Cultural Heritage

In our paper we present the impact of final consumption change on a product by applying the meaning of the autonomous consumption multiplier. Similar to Leontief and Kahn we introduced the multiplier of autonomous consumption, and with it the concept of the influence of change in final consumption o...

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Bibliographic Details
Published in:Inžinerinė ekonomika 2022-10, Vol.33 (4), p.433-443
Main Authors: Vojinovic, Borut, Krizanic, France
Format: Article
Language:English
Subjects:
Consumption
Cultural heritage
Investments
Multiplier
Revenue
Value
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Summary:In our paper we present the impact of final consumption change on a product by applying the meaning of the autonomous consumption multiplier. Similar to Leontief and Kahn we introduced the multiplier of autonomous consumption, and with it the concept of the influence of change in final consumption on production in the order of a series of subsequent periods. In our analysis, the Slovenian economic investments in the renovation of Slovenian cultural heritage buildings affect the revenue of the Slovenian economy by a multiplier of 2,945. The impact on value added is 1,236. With one million investments in the renovation of Slovene cultural heritage buildings, the revenue of the Slovene economy will increase by more than 2.9 million euros and value added by 1.2 million euros after the adjustment period. The analysed investments will enable employments of 32 employees and the utilization of 3 million euros in fixed assets.
ISSN:1392-2785
2029-5839
DOI:10.5755/j01.ee.33.4.29665