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A note on distortions from estimating the regional impacts of exogenous changes in output

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  • Cheol-Joo Cho

Abstract

This paper demonstrates both theoretically and empirically that when outputs instead of final demands are exogenously predetermined, the traditional Leontief final demand model overestimates economic impact, and even more so in a multiregional context. We assess this premise vis-à-vis the Leontief output model using the 2013 interregional input–output table of the Republic of Korea. We find that from a multiregional perspective the standard Leontief final demand model yields substantially biased output multipliers for Chungbuk Province.

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  • Cheol-Joo Cho, 2017. "A note on distortions from estimating the regional impacts of exogenous changes in output," Economic Systems Research, Taylor & Francis Journals, vol. 29(3), pages 418-429, July.
  • Handle: RePEc:taf:ecsysr:v:29:y:2017:i:3:p:418-429
    DOI: 10.1080/09535314.2017.1326094
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    Cited by:

    1. Banacloche, Santacruz & Cadarso, María Ángeles & Monsalve, Fabio, 2020. "Implications of measuring value added in exports with a regional input-output table. A case of study in South America," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 130-140.

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