The Economics of Input-Output Analysis
Input-output analysis is the main tool of applied equilibrium analysis. This textbook provides a systematic survey of the most recent developments in input-output analysis and their applications, helping us to examine questions such as: which industries are competitive? What are the multiplier effects of an investment program? How do environmental restrictions impact on prices? Linear programming and national accounting are introduced and used to resolve issues such as the choice of technique, the comparative advantage of a national economy, its efficiency and dynamic performance. Technological and environmental spillovers are analysed, both at the national level (between industries) and the international level (the measurement of globalisation effects). The book is self-contained, but assumes some familiarity with calculus, matrix algebra, and the microeconomic principle of optimizing behaviour. Exercises and review questions are included at the end of each chapter, and solutions at the end of the book.
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active sectors activity levels allocation autarky billion guilders capital and labor chapter column vector commodity technology coefﬁcients commodity vector complementary slackness components consumption costs deﬁned deﬁnition denoted domestic ﬁnal demand dual constraint dual program economy efﬁciency change employment multipliers energy equal equation equilibrium exports factor inputs feasible ﬁgure ﬁrst ﬁxed ﬂows free trade frontier fulﬁlls given Hence identiﬁed inefﬁciency inequality input coefﬁcients input-output analysis input-output coefﬁcients input-output model isoquant Lagrange multipliers lemma Leontief inverse linear program linearly independent macroeconomic marginal productivities material balance matrix maximization measure national accounts net output non-negative non-substitution table objective function output phenomenon of complementary pollution primal production income multipliers production units productivity growth proﬁt reﬂects requirements returns to scale row vector shadow prices Solow residual solution spillovers technical coefﬁcients terms of trade TFP growth unit of commodity value-added tax variables yields zero
Page ii - Robbins' definition of economics as "the science which studies human behavior as a relationship between ends and scarce means which have alternative uses," 30 the functional postulate is clearly implicit.