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The Choice Of An Input‐Output Table Embedded In Regional Econometric Input‐Output Models

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  • Philip R. Israilevich
  • Geoffrey J.D. Hewings
  • Graham R. Schindler
  • Ramamohan Mahidhara

Abstract

ABSTRACT In this paper, we investigate the role of input‐output data sources in regional econometric input‐output models. While there has been a great deal of experimentation focused on the accuracy of alternative methods for estimating regional input‐output coefficients, little attention has been directed to the role of accuracy when the input‐output system is nested within a broader accounting framework. The issues of accuracy were considered in two contexts, forecasting and impact analysis focusing on a model developed for the Chicago region. We experimented with three input‐output data sources: observed regional data, national input‐output, and randomly generated input‐output coefficients. The effects of different sources of input‐output data on regional econometric input‐output models revealed that there are significant differences in results obtained in both forecast and impact analyses. The adjustment processes inherent in the econometric input‐output system did not mask the differences imbedded in input‐output tables derived from different data sources. Since applications of these types of models involve both impact and forecasting exercises, there should be strong motivation for basing the system on the most accurate set of input‐output accounts.

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  • Philip R. Israilevich & Geoffrey J.D. Hewings & Graham R. Schindler & Ramamohan Mahidhara, 1996. "The Choice Of An Input‐Output Table Embedded In Regional Econometric Input‐Output Models," Papers in Regional Science, Wiley Blackwell, vol. 75(2), pages 103-119, April.
    • Handle: RePEc:bla:presci:v:75:y:1996:i:2:p:103-119
    DOI: 10.1111/j.1435-5597.1996.tb00656.x
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    Cited by:

    1. Takuro Uehara & Mateo Cordier & Bertrand Hamaide, 2018. "Fully dynamic input-output/system dynamics modeling for ecological-economic system analysis," ULB Institutional Repository 2013/277116, ULB -- Universite Libre de Bruxelles.
    2. Takuro Uehara & Mateo Cordier & Bertrand Hamaide, 2018. "Fully Dynamic Input-Output/System Dynamics Modeling for Ecological-Economic System Analysis," Post-Print hal-02862512, HAL.
    3. Francesc Sastre & Javier Rey-Maquieira & Italo Arbulú, 2017. "The euro crisis, fiscal devaluation, and impacts on the tourism sector in the Spanish economy," Tourism Economics, , vol. 23(4), pages 816-833, June.
    4. James C. Davis & Brian P. Holly, 2006. "Regional Analysis Using Census Bureau Microdata at the Center for Economic Studies," International Regional Science Review, , vol. 29(3), pages 278-296, July.
    5. Xu, Yue & Tian, Shu & Wang, Qingsong & Yuan, Xueliang & Ma, Qiao & Liu, Mengyue & Xu, Zhaopeng & Liu, Jixiang & Xu, Xiang & Liu, Chengqing, 2021. "Optimization path of energy-economy system from the perspective of minimum industrial structure adjustment," Energy, Elsevier, vol. 237(C).
    6. Sergio J. Rey, 1998. "The Performance of Alternative Integration Strategies for Combining Regional Econometric and Input-Output Models," International Regional Science Review, , vol. 21(1), pages 1-35, April.
    7. Gabela, Julio Gustavo Fournier, 2020. "On the accuracy of gravity-RAS approaches used for inter-regional trade estimation: evidence using the 2005 inter-regional input–output table of Japan," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 32(4), pages 521-539.

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