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Advancing the Power of Economic Evidence to Inform Investments in Children, Youth, and Families (2016) / Chapter Skim
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Glossary
Pages 241-248

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From page 241...
... The ratio is calculated by dividing total intervention benefits by total intervention costs, after relevant discounting and inflationary adjustments have been made. Break-even analysis: A method of economic evaluation that can be used when the outcomes of an intervention are unknown.
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From page 242...
... Because of inflation, the purchasing power of a dollar changes over time; current dollars, or actual dollars paid, include inflationary effects. Current, also referred to as "nominal," dollars can be converted to constant, or "real," dollars through the use of a price index (e.g., consumer price index [CPI]
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From page 243...
... that change as a result of an experimental treatment or intervention, such as the academic skills of children who have participated in an early childhood education program. Direct costs: May refer to those resources required to provide services directly to participants of the intervention (e.g., classroom time, home visits)
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From page 244...
... that cannot be measured directly in dollar terms. In the case of the costs of crime, for example, intangible crime victim costs include pain and suffering and loss of the feeling of personal safety.
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From page 245...
... Linked economic impacts: Impacts attributable to an intervention that are not directly caused by the intervention. For example, a delinquency intervention may have direct economic impacts on criminal justice system and victimization costs, as well as linked effects on lifetime earnings because of the relationship between reducing delinquency and increasing high school graduation.
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From page 246...
... that an intervention is intended to causally influence. Overhead: Ongoing costs of carrying out an intervention or running an organization, such as space and administrative staff costs, that have not been tied specifically to a particular activity.
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From page 247...
... Shadow price/shadow value: In the context of this study, the estimated true value of a resource or impact or cost of the results of a particular decision, as calculated when no market price is available or when market prices do not reflect the true value; a dollar value attached to an opportunity cost. Societal perspective: Captures the public sector and the private sector and includes all stakeholders who have some relationship to an intervention as bearers of costs or as beneficiaries, as well as those who may be affected only indirectly.
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From page 248...
... In the case of the costs of crime, for example, tangible crime victim costs include medical expenses, property damage and loss, and lost wages. See also intangible cost (or benefit)
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Key Terms

  • defined below
  • cost analysis
  • total intervention
  • dollar terms
  • shadow prices

  • estimating shadow
  • internal rate
  • government sector
  • future stream
  • costs net

  • measured directly
  • monetary terms
  • true value
  • costs include
  • outcome evaluation

  • future benefits
  • crime victim
  • summary measure
  • discount rates
  • private individuals

  • tangible crime
  • cost divided
  • victim costs
  • inflationary effects
  • public sector

  • time applied
  • medical expenses
  • analysis performed
  • square root
  • overhead costs


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