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Supply Multipliers in Two Regional Economies

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  • Miguel Vélez, Francisco Javier de
  • Llop Llop, Maria
  • Manresa, Antonio, 1954-

Abstract

This paper focuses on the analysis of the economic impact that sectorial total factor productivity – or valued added - gains have on two regional Spanish economies (Catalonia and Extremadura). In particular it is studied the quantitative effect that each sector’s valued added injections has on household welfare (real disposable income), on the consumption price indices and factor relative prices, on real production (GDP) and on the government and foreign net income. To do that, we introduce the concept of supply multiplier. The analytical approach consists of a computable general equilibrium model, in which it is assumed perfect competition and cleared markets of goods and factors. All the parameters and exogenous variables of the model are calibrated by means of two social accounting matrices, one for each region under study. The results allow identifying those sectors with the greatest multipliers impact on consumer welfare as the key sectors in the regional economies. Keywords: efficiency gains, supply multipliers, key sectors, computable general equilibrium. JEL Classification: C68, R13.

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Bibliographic Info

Paper provided by Universitat Rovira i Virgili, Department of Economics in its series Working Papers with number 2072/213636.

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Date of creation: 2013
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Handle: RePEc:urv:wpaper:2072/213636

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Keywords: Equilibri (Economia) -- Models matemàtics; Economia regional; 332 - Economia regional i territorial. Economia del sòl i de la vivenda;

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  1. Ferran Sancho, 2012. "Some Conceptual Difficulties Regarding 'Net' Multipliers," UFAE and IAE Working Papers 910.12, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Mas Ivars Matilde & Robledo Domínguez Juan Carlos, 2010. "Productividad: una perspectiva internacional y sectorial," Books, Fundacion BBVA / BBVA Foundation, edition 0, number 2011100.
  3. Dale Jorgenson & Mun Ho & Jon Samuels & Kevin Stiroh, 2007. "Industry Origins of the American Productivity Resurgence," Economic Systems Research, Taylor & Francis Journals, vol. 19(3), pages 229-252.
  4. Ana Salome Garcia Muniz & Antonio Morillas Raya & Carmen Ramos Carvajal, 2008. "Key Sectors: A New Proposal from Network Theory," Regional Studies, Taylor & Francis Journals, vol. 42(7), pages 1013-1030.
  5. Pyatt, F Graham & Round, Jeffery I, 1979. "Accounting and Fixed Price Multipliers in a Social Accounting Matrix Framework," Economic Journal, Royal Economic Society, vol. 89(356), pages 850-73, December.
  6. Miguel, Francisco Javier de & Llop Llop, Maria & Manresa, Antonio, 1954-, 2011. "Simulating the Impact of Sectorial Productivity Gains on Two Regional Economies: Key Sectors from a Supply Side Perspective," Working Papers 2072/169681, Universitat Rovira i Virgili, Department of Economics.
  7. Kenneth Hanson & Adam Rose, 1997. "Factor productivity and income inequality: a general equilibrium analysis," Applied Economics, Taylor & Francis Journals, vol. 29(8), pages 1061-1071.
  8. M. Alejandro Cardenete and Ferran Sancho, 2010. "The Role of Supply Constraints in Multiplier Analysis," Working Papers 432, Barcelona Graduate School of Economics.
  9. Erik Dietzenbacher, 2005. "More on multipliers," Journal of Regional Science, Wiley Blackwell, vol. 45(2), pages 421-426.
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