International conference on construction engineering and project management (국제학술발표논문집)

  • 2024.07a
  • /
  • Pages.1177-1186
  • /
  • 2024
  • /
  • 2508-9048(eISSN)
Korea Institute of Construction Engineering and Management (한국건설관리학회)
권호 표지
DOI QR코드

DOI QR Code

IM (Interindustry-Macro) Model on the Construction Sector

  • KwangHyuk Im (School of Technology, Lumpkin College of Business and Technology, Eastern Illinois University)
  • Published : 2024.07.29
Download PDF
⟨ Previous Next ⟩

Abstract

The construction sector, in relation to human's residential issues, serves as the cornerstone of societal systems, economic security, the national economy, individuals and households, economic activity, national safety, management, business, and government. Also, the essential sectors, such as electric power generation, transmission, and distribution, and natural gas distribution, water, sewage, and stormwater systems, and so on, form the heart of our social system. These essential sectors of our society provide core goods and services for continuous public health services, construction services, government operations, multiple businesses, and national and economic safety. Therefore, those systems are the cornerstone of our society, and strengthening their security and resilience is of utmost significance. However, the existing framework for assessing and evaluating the problems with regard to those systems lacks efficient methods and mechanisms. The main objective of this research is to define correlations between different infrastructures within an economic system to strengthen the resilience and security of the construction sector. This study will be conducted to identify physical relationships between different industries within an economic system and to define deterministic relationships through the values of interconnectedness and interdependency. In addition, this research attempts to complete a probabilistic estimation of economic impacts using historical economic data and to develop an assessment model that can be used in the future to measure economic impact in terms of the construction sector. In case of loss in the construction sector due to exogenous factors, identifying which critical infrastructures or sectors will be the most affected will help minimize the risks and property damages. Furthermore, improving the resiliency of the construction sector will help speed recovery from or resistance to unpredictable external elements.

Keywords

References

  1. Kerkhof, Nonhebel, Moll., "Relating the environmental impact of consumption to household expenditures: An input-output analysis", Ecological Economics, 68(4), 1160-1170, 2009.
  2. Rose, A., Sue Wing, I., Wei, D., Wein, A., "Economic Impacts of a California Tsunami", Natural Hazards Review, 17(2), 04016002, 2016.
  3. Thomas, Azevedo., "Estimating direct and indirect rebound effects for U.S. households with input-output analysis. Part 2: Simulation", Ecological Economics, 86, 188-198, 2013.
  4. Chen, Rachel J.C., "Effects of climate change in North America: An overview", Journal of Sustainable Development, 4(3), 32, 2017.
  5. Crowther, K., Haimes, Y., Taub, G., "Systemic Valuation of Strategic Preparedness Through Application of the Inoperability Input-Output Model with Lessons Learned from Hurricane Katrina", Risk Analysis, 27(5), 1345-1364, 2007.
  6. Ma, H., Shih, H., Hung, M., Chao, C., Li, P., "Integrating input output analysis with risk assessment to evaluate the population risk of arsenic", Environmental Science & Technology, 46(2), 1104-10, 2012.
  7. Orsi, M., Santos, J., "Probabilistic modeling of workforce-based disruptions and input-output analysis of interdependent ripple effects", Economic Systems Research, 22(1), 3-18, 2010.
  8. Shen, Zhesi, Yang, Liying, Pei, Jiansuo, Li, Menghui, Wu, Chensheng, Bao, Jianzhang, Wu, Jinshan., "Interrelations among scientific fields and their relative influences revealed by an input-output analysis", Journal of Informatics, 10(1), 82-97, 2016.
  9. Santos, J., "Inoperability input-output modeling of disruptions to interdependent economic systems", Systems Engineering, 9(1), 20-34, 2006.
  10. Crowther, K. and Haimes, Y., "Application of the inoperability input-output model (IIM) for systemic risk assessment and management of interdependent infrastructures", Systems Engineering, 8(4), 323-341, 2005.
  11. Haimes, Y. and Jiang, P., "Leontief-Based Model of Risk in Complex Interconnected Infrastructures", Journal of Infrastructure Systems, 7(1), 1-12, 2001.
  12. Anderson, C., Santos, J., Haimes, Y., "A Risk-based Input-Output Methodology for Measuring the Effects of the August 2003 Northeast Blackout", Economic Systems Research, 19(2), 183-204, 2007.
  13. Yacov Y Haimes. "Inoperability Input-Output Model and Its Derivatives for Interdependent Infrastructure Sectors", In Risk Modeling, Assessment, and Management, pages 795-842. John Wiley & Sons, Inc., 2008.
  14. Li, J., Crawford-Brown, D., Syddall, M., & Guan, D., "Modeling Imbalanced Economic Recovery Following a Natural Disaster Using Input-Output Analysis", Risk Analysis, 33(10), 1908-1923, 2013.
  15. Jiang, P., Haimes, Yacov., Y., "Input -output Inoperability Risk Model and Beyond: A Holistic Approach, ProQuest Dissertations and Theses", University of Virginia, 2003.
  16. Xie, Wei, Rose, Adam, Li, Shantong, He, Jianwu, Li, Ning, Ali, Tariq., "Dynamic Economic Resilience and Economic Recovery from Disasters: A Quantitative Assessment", Risk Analysis, 38(6), 1306-1318, 2018.
  17. Duchin, F., Szyld, D., "A Dynamic Input-Output Model with Assured Positive Output", Metro economic, 37(3), 269-282, 1985.
  18. Zhang, J., "A Multi-sector Nonlinear Dynamic Input-Output Model with Human Capital", Economic Systems Research, 20(2), 223-237, 2008.
  19. Horowitz, Karen J., Mark A., "Planting. Concepts and Methods of the us input-Output Accounts", Bureau of Economic Analysis, 2006.
  20. Polenske, K., "Leontief's spatial economic analyses", Structural Change and Economic Dynamics, 6(3), 309- 318, 1995.