A dynamic input-output model with explicit new and old technologies: an application to the UK
Progress is traditionally measured by the improvement of an economy's average characteristics from year to year. Some deeper insight might be gained by splitting the averages into explicit parameters for the new and old technologies at work within the same year, and recognising that innovative growth is driven just by the 'potential difference' between these two types of technology. Economic modelling in this light generates volatile development paths greatly resembling actual statistical time series, giving a holistic description of cycles, structural change, structural unemployment, relative price shifts and capacity utilisation issues. The paper expands the author's elaborations of the explicit-new-technology approach from prototype economies to that of the UK. Forecasts very close to reality are achieved including the 1992 cyclical decline. All this gives empirical support to the premise that the input-output method, if modified, could become a competitive tool for analysing 'spontaneous' market forces, as well as for direct planning. The need for separate statistical accounting of parameters for new technologies at macro- and industry-levels is substantiated.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 18 (2006)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CESR20 |
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CESR20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heinz Kurz & Neri Salvadori, 2000. "The Dynamic Leontief Model and the Theory of Endogenous Growth," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 255-265.
- Heinz Kurz & Neri Salvadori, 2000. "'Classical' Roots of Input-Output Analysis: A Short Account of its Long Prehistory," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 153-179.
When requesting a correction, please mention this item's handle: RePEc:taf:ecsysr:v:18:y:2006:i:2:p:183-203. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.