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research notes: Closing the case on closure in Cole's model

Author

Listed:
  • Randall W. Jackson

    () (Department of Geography, Ohio State University, Columbus, OH 43210, USA)

  • Moss Madden

    () (Department of Civic Planning Design, University of Liverpool, Liverpool L69 3 BX, UK)

Abstract

In his response to Closure in Cole's Reformulated Leontief Model (Jackson et al. 1997) Cole presents the mechanics of his solution. His spreadsheet demonstration of the model, however, fails to fully address the conceptual issues and model specification concerns raised in our critique. His demonstration does enable us to provide a sorely needed formalization that pinpoints the inconsistencies in his model. While we join with Cole in urging modellers to strive for clarity, transparency, and utility, we caution against allowing these goals to cause us to lose sight of internal consistency requirements.

Suggested Citation

  • Randall W. Jackson & Moss Madden, 1999. "research notes: Closing the case on closure in Cole's model," Papers in Regional Science, Springer;Regional Science Association International, vol. 78(4), pages 423-427.
  • Handle: RePEc:spr:presci:v:78:y:1999:i:4:p:423-427
    Note: Received: 9 September 1998
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    Keywords

    Extended input-output; lagged expenditures; model validity;

    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
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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