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Input-Output Economics and Material Flows

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  • Faye Duchin

    ()
    (Department of Economics, Rensselaer Polytechnic Institute, Troy, NY 12180-3590, USA.)

Abstract

This paper argues that resources constitute the fundamental area of overlap between the interests of input-output economists and industrial ecologists. Three misconceptions about input-output economics obscure this fact: the frequent failure to utilize combined quantity and price input-output models, treatment of value-added as a monetary concept only, and the belief that all input-output models assume a linear relationship between output and final deliveries. The paper dispels these misconceptions by describing a quantity input-output model with resources measured in physical units and the corresponding price model with both resource prices and product prices. The model is illustrated with a numerical example of a hypothetical economy and analysis of a scenario where that economy is subsequently obliged to extract a lower grade of ore. Then three other input-output models are presented: a model closed for household consumption, a dynamic model, and a model of the world economy. Unlike the basic model, the last two are non-linear in final deliveries and in factor prices while also retaining the desirable features of the basic model.

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Paper provided by Rensselaer Polytechnic Institute, Department of Economics in its series Rensselaer Working Papers in Economics with number 0424.

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Date of creation: Dec 2004
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Handle: RePEc:rpi:rpiwpe:0424

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  1. Leontief, Wassily & Duchin, Faye, 1986. "The Future Impact of Automation on Workers," OUP Catalogue, Oxford University Press, number 9780195036237, October.
  2. Pyatt, Graham, 1988. "A SAM approach to modeling," Journal of Policy Modeling, Elsevier, vol. 10(3), pages 327-352.
  3. Edler, Dietmar & Ribakova, Tatjana, 1993. "The Leontief-Duchin-Szyld dynamic input-output model with reduction of idle capacity and modified decision function," Structural Change and Economic Dynamics, Elsevier, vol. 4(2), pages 279-297, December.
  4. Duchin, Faye & Lange, Glenn-Marie, 1995. "The Future of the Environment: Ecological Economics and Technological Change," OUP Catalogue, Oxford University Press, number 9780195085747, October.
  5. Duchin, Faye & Lange, Glenn-Marie, 1998. "Prospects for the recycling of plastics in the United States," Structural Change and Economic Dynamics, Elsevier, vol. 9(3), pages 307-331, September.
  6. Duchin, Faye, 1990. "The conversion of biological materials and wastes to useful products," Structural Change and Economic Dynamics, Elsevier, vol. 1(2), pages 243-261, December.
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Cited by:
  1. Shmelev, Stanislav Edward, 2010. "Environmentally Extended Input–Output Analysis of the UK Economy: Key Sector Analysis," MPRA Paper 27206, University Library of Munich, Germany.
  2. Wenzel, Lars & Wolf, André, 2013. "Protection against major catastrophes: An economic perspective," HWWI Research Papers 137, Hamburg Institute of International Economics (HWWI).
  3. Kratena, Kurt, 2008. "From ecological footprint to ecological rent: An economic indicator for resource constraints," Ecological Economics, Elsevier, vol. 64(3), pages 507-516, January.

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