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The Input-Output Modeling Approach to the National Economy

Author

Listed:
  • Gaftea, Viorel

    (Institute for Economic Forecasting, Romanian Academy; University Tomis, Constanta.)

Abstract

The paper presents the conceptual and analytical framework of the Input-Output approach to the Romanian Economy Macromodel. The model uses annual Input- Output (I-O) tables, behavioral analysis and support estimation equations for technical coefficients, macro indicators and other variables. The I-O Model is based on the Romanian I-O tables and the methodology developed by Wassily Leontief (Nobel laureate in Economics, 1973). The model databases uses the 1989-2009 I-O tables and data series provided by the National Institute of Statistics for 105 branches of the economy, which are aggregated into seven sectors. The paper deals with the integration of other I-O sub-models needed to address the economy as a whole into the original model, in the interest of the current development of the Romanian economy. The model describes the structure and the potential of the Romanian economy and relies on the experience accumulated by the author in participating in the “Dobrescu macromodels” initiatives, the postdoctoral studies and analysis of input-output technical coefficients behavior or other studies based on I-O analysis.

Suggested Citation

  • Gaftea, Viorel, 2013. "The Input-Output Modeling Approach to the National Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 211-222, June.
    • Handle: RePEc:rjr:romjef:v::y:2013:i:2:p:211-222
    as

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    File URL: http://www.ipe.ro/rjef/rjef2_13/rjef2_2013p211-222.pdf
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    References listed on IDEAS

    as
    1. Dobrescu, Emilian, 1996. "Macromodels of the Romanian transition Economy," MPRA Paper 35810, University Library of Munich, Germany.
    2. Dobrescu, Emilian & Gaftea, Viorel & Scutaru, Cornelia, 2010. "Using the Leontief Matrix to Estimate the Impact of Investments upon the Global Output," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 176-187, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    input-output; modeling; structural changes; coefficients; driving effect;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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