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MIT11_481Js09_lec16

MIT11_481Js09_lec16 - MIT OpenCourseWare http/ocw.mit.edu...

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Unformatted text preview: MIT OpenCourseWare http://ocw.mit.edu 11.481J / 1.284J / ESD.192J Analyzing and Accounting for Regional Economic Growth Spring 2009 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms . Regional Input-Output Models Xin Li Reference: Karen R. Polenske. 1995. Leontief’s Spatial Economic Analyses, Structural Change and Economic Dynamics 6: 309-318 Assumptions • Constant returns to scale • Homogeneous products with no joint production • Constant direct input (technology) coefficient • A demand-driven model P r o d u c in g in d u s t r ie s National input-output table Purchasing industries FD FD= final demands, including m X m G r o s s N a t io n a l P r o d u c t • Personal consumption expenditures • Gross private capital formation • Net inventory change • Net foreign exports • Federal, state and local gov’t purchase VA= Value added, including • Wages and salaries • Rent • Depreciation • Taxes etc....
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