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Which Industries To Bail Out First In Economic Recession? Ranking Us Industrial Sectors By The Power-Of-Pull

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  • Jianxi Luo

Abstract

There have been intense debates regarding which industrial sectors should be prioritized for receiving bailout in economic recessions. This paper takes a network perspective to rank sectors according to the Power-of-Pull (PoP), i.e. a sector's power to pull the overall economy. An eigenvector method is employed to assess the PoP of sectors in the USA, using input--output data from 1998 to 2010. The results support bailout to the motor vehicle sector, but argue against bailout to public infrastructure, health care and information technologies design and service sectors, and also reveal the continual decline of PoP ranking of computer and electronics manufacturing sector over time. These results confirm some but also show little support to some other economic revival policies of the Obama Administration in the USA.

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  • Jianxi Luo, 2013. "Which Industries To Bail Out First In Economic Recession? Ranking Us Industrial Sectors By The Power-Of-Pull," Economic Systems Research, Taylor & Francis Journals, vol. 25(2), pages 157-169, March.
    • Handle: RePEc:taf:ecsysr:v:25:y:2013:i:2:p:157-169
    DOI: 10.1080/09535314.2013.775111
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    Cited by:

    1. Swayamsiddha Sarangi, 2023. "Labor share decline across US manufacturing sub-sectors: 1979-2019," Working Paper Series, Department of Economics, University of Utah 2023_07, University of Utah, Department of Economics.
    2. Haider, Khan & Szymanski-Burgos, Adam, 2021. "COVID-19 and Strategic Sectors in Brazil: A Socially-Embedded Intersectional Capabilities Approach," MPRA Paper 109022, University Library of Munich, Germany.
    3. Wang, Zhen & Wei, Liyuan & Niu, Beibei & Liu, Yong & Bin, Guoshu, 2017. "Controlling embedded carbon emissions of sectors along the supply chains: A perspective of the power-of-pull approach," Applied Energy, Elsevier, vol. 206(C), pages 1544-1551.
    4. Hu, Fei & Zhao, Shangmei & Bing, Tao & Chang, Yiming, 2017. "Hierarchy in industrial structure: The cases of China and the USA," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 469(C), pages 871-882.
    5. Noleen Pisa & Wilma Viviers & Riaan Rossouw, 2017. "Enhancing Industrial Cluster Formation Through the Realistic Export Opportunities of the TRADE-DSM," South African Journal of Economics, Economic Society of South Africa, vol. 85(3), pages 386-404, September.
    6. Henrique Morrone, 2018. "Which Sectors To Stimulate First In Brazil? Estimating The Sectoral Power To Pull The Economy Out Of The Recession," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 95, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. Raffaele Giammetti & Alberto Russo & Mauro Gallegati, 2020. "Key sectors in input–output production networks: An application to Brexit," The World Economy, Wiley Blackwell, vol. 43(4), pages 840-870, April.
    8. Aydoğuş, Osman & Deger, Cagacan & Tunalı Çalışkan, Elif & Gürel Günal, Gülçin, 2015. "Regional Input-Output Analysis of A Mega-Event: Possible Impact of EXPO on Izmir Economy," MPRA Paper 65547, University Library of Munich, Germany.
    9. Valerija Botric, 2013. "Identifying Key Sectors in Croatian Economy Based on Input-Output Tables," Working Papers 1302, The Institute of Economics, Zagreb.
    10. Ana Salome GARCIA MUÑIZ & Carmen RAMOS CARVAJAL, 2015. "Input-Output Linkages And Network Contagion In Greece:Demand And Supply View," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 15(2), pages 35-52.

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