Closing the Canadian Input–Output Model: Homogeneous vs Non-homogeneous Household Sector Specifications
- 1 January 1994
- journal article
- research article
- Published by Informa UK Limited in Economic Systems Research
- Vol. 6 (4), 397-414
- https://doi.org/10.1080/09535319400000032
Abstract
This paper addresses, on both theoretical and empirical fronts, the task of endogenizing the household sector in a rectangular input–output (IO) model. The formulation of Miyazawa (1976) for square models is extended to the development of an impact matrix for rectangular models. This allows for the numerous household revenue sources to be built into the model. A closed model with non-homogeneous households is developed where individuals are modelled individually and by industry. The perform ance of the non-homogeneous household sector model is compared with a model that has a homogeneous household sector. The model with the non-homogeneous household sector is more sensitive to changes in wages and salaries than to changes in final demand.Keywords
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