Embedding New Technologies and Extending Time Horizons in Input-Output Analysis

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Author(s): Randall W. Jackson (West Virginia University, USA)and Christa D. Court (MRIGlobal and West Virginia University, USA)
Copyright: 2014
Pages: 13
Source title: Econometric Methods for Analyzing Economic Development
Source Author(s)/Editor(s): Peter V. Schaeffer (West Virginia University, USA)and Eugene Kouassi (University of Cocody, Cote d'Ivoire)
DOI: 10.4018/978-1-4666-4329-1.ch012

Keywords: Business Science Reference / Data Analysis & Statistics / Economics and Economic Theory / Library & Information Science

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Abstract

Input-output analysts are often confronted with requests for impacts assessments for economic shocks that stretch uncomfortably the assumptions of standard input-output modeling. This chapter presents an approach to confronting a subset of these challenges straightforwardly in a way that ameliorates some of the more restrictive input-output assumptions, maintains the inter-industry detail of the input-output model, and enhances the representation of certain economic behaviors without the additional complexities of moving to more complex computable general equilibrium or conjoined econometric input-output models. The authors conclude with the observation that direct changes to the input-output framework most often necessitate further modifications requiring additional behavioral assumptions and decisions on the part of the modeler.

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Embedding New Technologies and Extending Time Horizons in Input-Output Analysis

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