A global robustness measure for input-output projections from ESA and SNA tables
AbstractInput-output (interindustry) data are in wide use in empirical research and constitute an integral part of the European System of Accounts (ESA) and of the System of National Accounts (SNA). In a strict sense, however, these data are merely estimates of the true economic relationships. Therefore, we suggest a measure of robustness of input-output projections with respect to errors or changes in the underlying Leontief matrix. Our measure is based on the mathematical theory of norms and characterizes a complete Leontief matrix. Thereby, no assumptions are required on the distribution of the matrix elements. We discuss alternative numerical-computing algorithms and provide useful bounds and approximation formulas. The paper concludes with a large set of empirical sample applications.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Economic Systems Research.
Volume (Year): 17 (2005)
Issue (Month): 1 ()
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- Hazari, Bharat R, 1970. "Empirical Identification of Key Sectors in the Indian Economy," The Review of Economics and Statistics, MIT Press, vol. 52(3), pages 301-05, August.
- Hazari, Bharat R & Krishnamurty, J, 1970. "Employment Implications of India's Industrialization: Analysis in an Input Output Framework," The Review of Economics and Statistics, MIT Press, vol. 52(2), pages 181-86, May.
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