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In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. [1] Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model.
The Regional Input–Output Modeling System (RIMS II) is a regional economic model developed and maintained by the US Bureau of Economic Analysis (BEA).. Regional input–output multipliers such as the RIMS II multipliers allow estimates of how a one-time or sustained increase in economic activity in a particular region will impact other industries located in the region—i.e., estimating ...
Karen Rosel Polenske (born March 20, 1937) is an American regional economist specialized in energy, environmental, and infrastructure analyses, and input-output accounts and models, particularly at the subnational scale. She is currently the Peter de Florez Professor of Regional Political Economy at the Massachusetts Institute of Technology ...
Economic impact analyses usually employ one of two methods for determining impacts. The first is an input-output model (I/O model) for analyzing the regional economy. These models rely on inter-industry data to determine how effects in one industry will impact other sectors. In addition, I/O models also estimate the share of each industry's ...
A shift-share analysis attempts to identify the sources of regional economic changes. The region can be a town, city, country, statistical area, state, or any other region of the country. The analysis examines changes in an economic variable, such as migration, a demographic statistic, firm growth, or firm formations, although employment is ...
Spillover (economics) In economics, a spillover is a positive or a negative, but more often negative, impact experienced in one region or across the world due to an independent event occurring from an unrelated environment. [1] For example, externalities of economic activity are non-monetary spillover effects upon non-participants.
At Harvard, Isard became well acquainted with Wassily Leontief and helped him adapt his idea of an input-output model to a local economy. Between 1949 and 1953 Isard was employed as a research associate at Harvard, but teaching a course, designed by himself, on location theory and regional development.
An economic input-output life-cycle assessment, or EIO-LCA involves the use of aggregate sector-level data to quantify the amount of environmental impact that can be directly attributed to each sector of the economy and how much each sector purchases from other sectors in producing its output. Combining such data sets can enable accounting for ...