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Time Dynamics and the Introduction of New Technologies within IO Analysis

Author

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  • Christa Court

    (MRI Global)

  • Randall W. Jackson

    (Regional Research Institute, West Virginia University)

Abstract

Although Input-Output (IO) models are widely accepted tools for regional scientists and economists alike, there are still many issues to confront during their application, including estimating impacts relative to future years, dynamic impacts, and the introduction of new technologies within economic systems. Oftentimes, especially within energy and environmental subject areas, applications call for not only the introduction of new technologies but also for forecasts of economic impacts that may take years, or even decades, to fully implement. Despite the static nature of the IO modeling framework, these types of situations can be handled successfully and in ways fully consistent with the principles underlying the framework. This paper describes such a methodology, developed in the context of an input-output application for the estimation of impacts associated with the introduction of new energy technologies over a twenty year time horizon, modeling new and existing fossil-fuel technology scenarios from inception through the year 2030. As a demonstration of the method, application results are presented and briefly discussed.

Suggested Citation

  • Christa Court & Randall W. Jackson, 2010. "Time Dynamics and the Introduction of New Technologies within IO Analysis," Working Papers Working Paper 2010-03, Regional Research Institute, West Virginia University.
    • Handle: RePEc:rri:wpaper:2010wp03
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    File URL: https://researchrepository.wvu.edu/rri_pubs/89/
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    References listed on IDEAS

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    1. S J Rey & R W Jackson, 1999. "Labor-Productivity Changes in Regional Econometric +Input−Output Models," Environment and Planning A, , vol. 31(9), pages 1583-1599, September.
    2. Jackson, Randall W., 1989. "Probabilistic input-output analysis: Modeling directions," Socio-Economic Planning Sciences, Elsevier, vol. 23(1-2), pages 87-95.
    3. Michael L. Lahr & Benjamin H. Stevens, 2002. "A Study of the Role of Regionalization in the Generation of Aggregation Error in Regional Input –Output Models," Journal of Regional Science, Wiley Blackwell, vol. 42(3), pages 477-507, August.
    4. Feldman, Stanley J & McClain, David & Palmer, Karen, 1987. "Sources of Structural Change in the United States, 1963-78: An Input-Output Perspective," The Review of Economics and Statistics, MIT Press, vol. 69(3), pages 503-510, August.
    5. S J Rey, 1997. "Integrating Regional Econometric and Input—Output Models: An Evaluation of Embedding Strategies," Environment and Planning A, , vol. 29(6), pages 1057-1072, June.
    6. Yoshinori Morimoto, 1970. "On Aggregation Problems in Input-Output Analysis," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(1), pages 119-126.
    7. West, Guy R, 1991. "A Queensland Input-Output Econometric Model: An Overview," Australian Economic Papers, Wiley Blackwell, vol. 30(57), pages 221-240, December.
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    Citations

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    Cited by:

    1. Taelim Choi & Randall W. Jackson & Nancey Green Leigh & Christa D. Jensen, 2011. "A Baseline Input—Output Model with Environmental Accounts (IOEA) Applied to E-Waste Recycling," International Regional Science Review, , vol. 34(1), pages 3-33, January.
    2. Umed Temurshoev & Colin Webb & Norihiko Yamano, 2011. "Projection Of Supply And Use Tables: Methods And Their Empirical Assessment," Economic Systems Research, Taylor & Francis Journals, vol. 23(1), pages 91-123.

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    More about this item

    Keywords

    Input-Output; Forecasts; Energy; Impacts Assessment;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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