Updating and Estimating a Social Accounting Matrix Using Cross Entropy Methods

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Updating and Estimating a Social Accounting Matrix Using Cross Entropy Methods

Author Info

Sherman Robinson, Andrea Cattaneo, Moataz El-Said

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Abstract

The problem in estimating a social accounting matrix (SAM) for a recent year is to find an efficient and cost-effective way to incorporate and reconcile information from a variety of sources, including data from prior years. Based on information theory, the paper presents a flexible 'cross entropy' (CE) approach to estimating a consistent SAM starting from inconsistent data estimated with error, a common experience in many countries. The method represents an efficient information processing rule-using only and all information available. It allows incorporating errors in variables, inequality constraints, and prior knowledge about any part of the SAM. An example is presented, applying the CE approach to data from Mozambique, using a Monte Carlo approach to compare the CE approach to the standard RAS method and to evaluate the gains in precision from utilizing additional information.

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Article provided by Taylor and Francis Journals in its journal Economic Systems Research.

Volume (Year): 13 (2001)
Issue (Month): 1 (March)
Pages: 47-64
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Handle: RePEc:taf:ecsysr:v:13:y:2001:i:1:p:47-64

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Paper
- Robinson, Sherman & Cattaneo, Andrea & El-Said, Moataz, 2000. "Updating and estimating a Social Accounting Matrix using cross entropy methods," TMD discussion papers 58, International Food Policy Research Institute (IFPRI). [Downloadable!]

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Golan, Amos & Judge, George & Robinson, Sherman, 1994. "Recovering Information from Incomplete or Partial Multisectoral Economic Data," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 541-49, August. [Downloadable!] (restricted)
Barker, Terry & van der Ploeg, Frederick & Weale, Martin, 1984. "A Balanced System of National Accounts for the United Kingdom," Review of Income and Wealth, Blackwell Publishing, vol. 30(4), pages 461-85, December.
Gilchrist, Donald A & St Louis, Larry V, 1999. "Completing Input-Output Tables Using Partial Information, with an Application to Canadian Data," Economic Systems Research, Taylor and Francis Journals, vol. 11(2), pages 185-93, June.
McDougall, Robert, 1999. "Entropy Theory and RAS are Friends," GTAP Working Papers 300, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University. [Downloadable!]
Zellner, A., 1988. "Optimal Information-Processing And Bayes' Theorem," Papers m8803, Southern California - Department of Economics.
Toh, Mun-Heng, 1998. "The RAS Approach in Updating Input-Output Matrices: An Instrumental Variable Interpretation and Analysis of Structural Change," Economic Systems Research, Taylor and Francis Journals, vol. 10(1), pages 63-78, March.
Harrigan, Frank J, 1990. "The Reconciliation of Inconsistent Economic Data: The Information Gain," Economic Systems Research, Taylor and Francis Journals, vol. 2(1), pages 17-25.
F Harrigan & I McNicoll, 1986. "Data use and the simulation of regional input - output matrices," Environment and Planning A, Pion Ltd, London, vol. 18(8), pages 1061-1076, August. [Downloadable!] (restricted)

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