Maurizio Ciaschini (Department of Studies on Economic Development (DiSSE), Macerata University) Rosita Pretaroli (Department of Studies on Economic Development (DiSSE), Macerata University) Claudio Socci (Università di Macerata) (Department of Studies on Economic Development (DiSSE), Macerata University)
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Through the application of the Macro Multiplier approach on a multisectoral model for the USA, the paper identifies the "convenient" structure of a policy control on final demand, oriented to a particular policy objective (industry output), focusing on the Information and Communication Technology sector (ICT sector). The method used is based on a specific matrix decomposition that allows for the quantification of an aggregated scale-effect, called Macro Multiplier, that affects the objective (endogenous) variable each time the policy (exogenous) control assumes a specific structure. This type of quantification is of aggregated type, since the scalars obtained are valid for all sectoral components of both the policy variable and the objective variable. But it does not violate the conditions put forward by the aggregation theory, since the aggregated Macro Multipliers are consistent with the multi-sectoral features of the model. Once identified the structures and the associated Macro Multipliers, the policy maker can have a complete picture of the patterns of the objective variable that can be attained and determine a ”convenient” structure of the policy variable that compels the model towards those patterns. This is done choosing either one structure or a combination of the structures identified for the policy control. The application is done on data of the United State (U.S.) Input-Output table (Industry by Industry) for the year 2005. ICT manufacturing and service sectors are built following the indications of the OECD.
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Paper provided by Macerata University, Department of Studies on Economic Development (DiSSE) in its series Working Papers with number
wpaper11.
Find related papers by JEL classification: O1 - Economic Development, Technological Change, and Growth - - Economic Development O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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