Supply and demand biases in linear interindustry models

We explore the sectoral and aggregate implications of some endogeneization rules (i.e. on value-added and final demand) which have been common in the extended demand-driven Leontief model and have been recently proposed in the supply-driven Ghosh model. Extended linear models are refinements that ai...

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Autores: Manresa, Antonio|||0000-0002-5581-4963, Sancho Pifarré, Ferran|||0000-0002-6200-116X
Tipo de recurso: artículo
Fecha de publicación:2013
País:España
Institución:Universitat Autònoma de Barcelona
Repositorio:Dipòsit Digital de Documents de la UAB
Idioma:inglés
OAI Identifier:oai:ddd.uab.cat:174919
Acceso en línea:https://ddd.uab.cat/record/174919
https://dx.doi.org/urn:doi:10.1016/j.econmod.2013.03.025
Access Level:acceso abierto
Palabra clave:Extended linear models
Demand-driven model
Supply-driven model
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spelling Supply and demand biases in linear interindustry modelsManresa, Antonio|||0000-0002-5581-4963Sancho Pifarré, Ferran|||0000-0002-6200-116XExtended linear modelsDemand-driven modelSupply-driven modelWe explore the sectoral and aggregate implications of some endogeneization rules (i.e. on value-added and final demand) which have been common in the extended demand-driven Leontief model and have been recently proposed in the supply-driven Ghosh model. Extended linear models are refinements that aim at endowing the linear models with additional general equilibrium feedbacks. We detect that these rules may give rise in these models to some allegedly pathological and biased behavior. We find that in these models sectoral or aggregate output may not follow the logical and economically expected direct relationship with some underlying endogenous variables-namely, output and value-added in the supply-driven model and output and consumption in the demand-driven model. Because of their shared mathematical structure, whatever is or seems to be pathological in the Ghosh model also has a symmetric counterpart in the Leontief model. These would not be good news for the inner consistency of these linear models and raise doubts regarding the validity of their empirical applications. To avoid such possible inconsistencies, we propose new and simple endogeneization rules that have a sound economic interpretation 22013-01-0120132013-01-01Articlehttp://purl.org/coar/resource_type/c_6501SMURhttp://purl.org/coar/version/c_71e4c1898caa6e32info:eu-repo/semantics/articleapplication/pdfhttps://ddd.uab.cat/record/174919https://dx.doi.org/urn:doi:10.1016/j.econmod.2013.03.025reponame:Dipòsit Digital de Documents de la UABinstname:Universitat Autònoma de BarcelonaInglésengMinisterio de Ciencia e Innovación https://doi.org/10.13039/501100004837 ECO2009-06953Ministerio de Economía y Competitividad https://doi.org/10.13039/501100003329 ECO2012-34046Ministerio de Ciencia e Innovación https://doi.org/10.13039/501100004837 ECO2009-11857Agència de Gestió d'Ajuts Universitaris i de Recerca https://doi.org/10.13039/501100003030 2009/SGR-10Agència de Gestió d'Ajuts Universitaris i de Recerca https://doi.org/10.13039/501100003030 2009/SGR-578open accesshttp://purl.org/coar/access_right/c_abf2Aquest material està protegit per drets d'autor i/o drets afins. Podeu utilitzar aquest material en funció del que permet la legislació de drets d'autor i drets afins d'aplicació al vostre cas. Per a d'altres usos heu d'obtenir permís del(s) titular(s) de drets.https://rightsstatements.org/vocab/InC/1.0/info:eu-repo/semantics/openAccessoai:ddd.uab.cat:1749192026-06-06T12:50:31Z
dc.title.none.fl_str_mv Supply and demand biases in linear interindustry models
title Supply and demand biases in linear interindustry models
spellingShingle Supply and demand biases in linear interindustry models
Manresa, Antonio|||0000-0002-5581-4963
Extended linear models
Demand-driven model
Supply-driven model
title_short Supply and demand biases in linear interindustry models
title_full Supply and demand biases in linear interindustry models
title_fullStr Supply and demand biases in linear interindustry models
title_full_unstemmed Supply and demand biases in linear interindustry models
title_sort Supply and demand biases in linear interindustry models
dc.creator.none.fl_str_mv Manresa, Antonio|||0000-0002-5581-4963
Sancho Pifarré, Ferran|||0000-0002-6200-116X
author Manresa, Antonio|||0000-0002-5581-4963
author_facet Manresa, Antonio|||0000-0002-5581-4963
Sancho Pifarré, Ferran|||0000-0002-6200-116X
author_role author
author2 Sancho Pifarré, Ferran|||0000-0002-6200-116X
author2_role author
dc.subject.none.fl_str_mv Extended linear models
Demand-driven model
Supply-driven model
topic Extended linear models
Demand-driven model
Supply-driven model
description We explore the sectoral and aggregate implications of some endogeneization rules (i.e. on value-added and final demand) which have been common in the extended demand-driven Leontief model and have been recently proposed in the supply-driven Ghosh model. Extended linear models are refinements that aim at endowing the linear models with additional general equilibrium feedbacks. We detect that these rules may give rise in these models to some allegedly pathological and biased behavior. We find that in these models sectoral or aggregate output may not follow the logical and economically expected direct relationship with some underlying endogenous variables-namely, output and value-added in the supply-driven model and output and consumption in the demand-driven model. Because of their shared mathematical structure, whatever is or seems to be pathological in the Ghosh model also has a symmetric counterpart in the Leontief model. These would not be good news for the inner consistency of these linear models and raise doubts regarding the validity of their empirical applications. To avoid such possible inconsistencies, we propose new and simple endogeneization rules that have a sound economic interpretation
publishDate 2013
dc.date.none.fl_str_mv 2
2013-01-01
2013
2013-01-01
dc.type.none.fl_str_mv Article
http://purl.org/coar/resource_type/c_6501
SMUR
http://purl.org/coar/version/c_71e4c1898caa6e32
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://ddd.uab.cat/record/174919
https://dx.doi.org/urn:doi:10.1016/j.econmod.2013.03.025
url https://ddd.uab.cat/record/174919
https://dx.doi.org/urn:doi:10.1016/j.econmod.2013.03.025
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv Ministerio de Ciencia e Innovación https://doi.org/10.13039/501100004837 ECO2009-06953
Ministerio de Economía y Competitividad https://doi.org/10.13039/501100003329 ECO2012-34046
Ministerio de Ciencia e Innovación https://doi.org/10.13039/501100004837 ECO2009-11857
Agència de Gestió d'Ajuts Universitaris i de Recerca https://doi.org/10.13039/501100003030 2009/SGR-10
Agència de Gestió d'Ajuts Universitaris i de Recerca https://doi.org/10.13039/501100003030 2009/SGR-578
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
https://rightsstatements.org/vocab/InC/1.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
https://rightsstatements.org/vocab/InC/1.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Dipòsit Digital de Documents de la UAB
instname:Universitat Autònoma de Barcelona
instname_str Universitat Autònoma de Barcelona
reponame_str Dipòsit Digital de Documents de la UAB
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