Download Estimation of stochastic input-output models: Some by S.D. Gerking PDF

By S.D. Gerking

This monograph is a revision of my Indiana college doctoral disserta­ tion which used to be accomplished in April, 1975. thank you are, for that reason, a result of individuals of my doctoral committee: Saul Pleeter (Chairman), David J. Behling, R. Jeffery eco-friendly, Richard L. Pfister, and Elmus Wicker for his or her beneficial reviews on prior models of the manuscript. furthermore, i'm indebted to the department of analysis and to the workplace of analysis and complicated reviews at Indiana college for monetary help. because the reader will discover, the thoughts constructed in Chapters three and four of this monograph are illustrated utilizing input-output facts from West Virginia. those facts have been generously made on hand by way of William H. Miernyk, Director of the nearby study Institute at West Virginia college. I additionally desire to recognize the Bureau of commercial and Eco­ nomic examine at Arizona country college for delivering learn assistants, Kevin A. Nosbisch and Tom R. Rex, who aided in processing the West Virginia info. a 3rd learn assistant, Phillip M. Cano, additionally labored in this venture as a part of an autonomous examine software taken lower than my path through the spring semester of 1975. eventually, i have to thank Mary Holguin and Margaret Shumway who expertly typed the ultimate reproduction of the manuscript. regardless of the efforts of all of the participants pointed out above, i suppose accountability for any error that may remain.

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However, the first and last deserve some further comment. The first equation is an accounting identity stating that measured total output for any firm must be equal to its total payments to firms in the m endogenous sectors and to value added. As can be seen, value added has been broken down into three components. That is, 1:;~ I v:/ r) = R~ (r) + WS/,l + PG/rl, II The first, Rv/rl, represents that part of measured value added which is determined as a residual from ~ (r) and z" (rl. 16). On the other hand, the second component, WSj (rl , denotes wages and salaries; while a third, PGj (r), represents payments to government such as property taxes.

II Error free measure- 44 RESOLVING PROBLEMS ENCOUNTERED IN INPUT-OUTPUT ANALYSIS ments on exports and sales to other firms on capital account will probably be much more difficult to obtain. 16) and can be dealt with in much the same way. 16) to take this specification into account. Finally, if one or more components of final demand are known to be error free, the b,] can be estimated by TSLS since each of the estimable relations is identified. 16) as instruments for the X,('). 18) where X, and S,] are n,xl vectors containing the X,(') and S,}') and where P, is an n,x2 matrix containing the observations on SH, (r) and SG, r); the two variables which are assumed, for the sake of illustration, to be measured exactly.

15). 16) will be useful in estimating the hI] if at least one of the above three components offinal demand can be measured exactly. Fortunately, this condition should hold for a great many firms. For example, due to various reporting requirements, a firm's sales to government at the state and federal levels may be measured exactly. In addition, sales to households for a particular firm may be accurately computed from its data on retail sales tax collections. II Error free measure- 44 RESOLVING PROBLEMS ENCOUNTERED IN INPUT-OUTPUT ANALYSIS ments on exports and sales to other firms on capital account will probably be much more difficult to obtain.

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