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Using the Leontief Matrix to Estimate the Impact of Investments upon the Global Output

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Author Info

  • Dobrescu, Emilian

    ()
    (National Institute for Economic Research, Center for Macroeconomic Modeling, Member of the Romanian Academy, Bucharest)

  • Gaftea, Viorel

    ()
    (EDATA SRL, Bucharest)

  • Scutaru, Cornelia

    ()

Abstract

The study presents in the first chapter the applied methodology and the data used for the empirical research. The economic activities were grouped into 10 sectors by aggregating the extended input-output tables for Romania (with 105 branches). The chosen reference year is 2007 - the last year for which such statistical recordings were available. The second chapter examines some of the Romanian economy’s structural features revealed by the matrices A and (I-A)-1, insisting on the driving effects of interdependencies (direct and indirect) generated by cross-sector productive flows. The third chapter focuses on the impact of gross fixed capital formation (GFCF) upon the output. On the one hand, the implications of changes in volume are estimated (for example, data on 2007 are recalculated for a variation of +/-5% in the GFCF). On the other hand, the influence of the sectoral structure of the indicator in question is quantified with the help of three different macroeconomic simulations. Further possible developments of the current investigation are discussed at the end of the paper.

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Bibliographic Info

Article provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.

Volume (Year): (2010)
Issue (Month): 2 (July)
Pages: 176-187

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Handle: RePEc:rjr:romjef:v::y:2010:i:2:p:176-187

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Related research

Keywords: input-output analysis; multipliers; macroeconomic simulations;

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References

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  1. Harris, D., 1996. "Principal Components Analysis of Cointegrated Time Series," Monash Econometrics and Business Statistics Working Papers 2/96, Monash University, Department of Econometrics and Business Statistics.
  2. Breusch, T S, 1978. "Testing for Autocorrelation in Dynamic Linear Models," Australian Economic Papers, Wiley Blackwell, vol. 17(31), pages 334-55, December.
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Cited by:
  1. Dobrescu, Emilian, 2012. "Restatement of the I-O Coefficient Stability Problem," MPRA Paper 48567, University Library of Munich, Germany.
  2. Emilian Dobrescu, 2013. "Restatement of the I-O Coefficient Stability Problem," Journal of Economic Structures, Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 2(1), pages 1-67, December.
  3. Gaftea, Viorel, 2013. "The Input-Output Modeling Approach to the National Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 211-222, June.
  4. Emilian Dobrescu & Viorel Gaftea, 2012. "On the Accuracy of RAS Method in an Emergent Economy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 502-521, June.
  5. Tounsi, Said & Ezzahid, El Hadj & El Alaoui, Aicha & Nihou, Abdelaziz, 2012. "Key sectors in the Moroccan economy: An application of input-output analysis," Economics Discussion Papers 2012-59, Kiel Institute for the World Economy.
  6. Dobrescu, Emilian, 2013. "Restatement of the I-O Coefficient Stability Problem," Working Papers of Macroeconomic Modelling Seminar 132601, Institute for Economic Forecasting.
  7. Scutaru, Cornelia & Fomin, Petre & Stanica, Cristian, 2010. "Prospects for the Evolution of the Economic Sectors’ Behavior," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(5), pages 120-142.
  8. Dobrescu, Emilian, 2013. "Modelling the Sectoral Structure of the Final Output," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 59-89, October.

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