Interindustry Economics

Interindustry Economics

Interindustry Economics

Interindustry Economics

Excerpt

Although a formal analysis of the interdependence of economic units has been available since the time of Walras, the corresponding field of applied economics has developed only in the last twenty years. Its origin is in the pioneering work of Leontief, who first applied his input-output model to empirical studies in the 1930's. Since then, the input-output approach has developed greatly, and alternative models have been suggested. The resulting field of quantitative analysis, which we refer to as interindustry economics, is the subject of this book.

Postwar developments in interindustry economics have been stimulated by the interest of economists in a variety of problems that cannot be easily handled by either partial or aggregative analysis. Such problems arise when patterns of production undergo substantial changes, as in periods of reconstruction, balance of payments disequilibrium, defense mobilization, or accelerated economic development. The prevalence of such conditions in recent years has led a number of governmental and private research groups to undertake empirical studies based on Leontiefs input-output model. At the same time, concern with allocation problems involving specific resource limitations has also stimulated the development of activity analysis and linear programming by Dantzig, Koopmans, and others. These methods add elements of choice to interindustry models and . . .

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