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A comparison of annual and benchmark input-output tables in regional economic modeling
Abstract As the economy evolves, so do the coefficients of input-output (I-O) tables. Yet input substitutions occur primarily within economic sectors rather than between them. Consequently, at broader levels of economic aggregation, the annual revision of I-O tables may prove unnecessary. This study compares annual I-O accounts to a fixed benchmark I-O table using integrated-small area modeling of the industrial sector. The model uses annual data on manufacturing employment at primarily the 2-digit SIC level for the St. Louis metropolitan area. Annual I-O accounts do not appear to improve the estimation results at this degree of aggregation.
A comparison of annual and benchmark input-output tables in regional economic modeling
Abstract As the economy evolves, so do the coefficients of input-output (I-O) tables. Yet input substitutions occur primarily within economic sectors rather than between them. Consequently, at broader levels of economic aggregation, the annual revision of I-O tables may prove unnecessary. This study compares annual I-O accounts to a fixed benchmark I-O table using integrated-small area modeling of the industrial sector. The model uses annual data on manufacturing employment at primarily the 2-digit SIC level for the St. Louis metropolitan area. Annual I-O accounts do not appear to improve the estimation results at this degree of aggregation.
A comparison of annual and benchmark input-output tables in regional economic modeling
Stover, Mark Edward (author)
1994
Article (Journal)
English
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