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The Delayed Impacts Of Plant Closures In A Reformulated Leontief Model

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  • Sam Cole

Abstract

ABSTRACT The paper uses a reformulated input‐output approach to calculate the medium‐run regional economic impact of plant closures or similar changes taking nun account expenditure lags. The approach lends to a straightforward modification of the generalized Lecontief inverse method. An example is used show that the inclusion of expenditure lags m impact analysis ran he quite substantial and that the usual approach of partitioning the accounts into infinitely last and infinitely slow activities, and the Consequent assumption that equilibrium is reached, is an especially weak approximation. Revising the contribution of all activities to account for expenditure lags changes both short‐ and medium‐term predictions by up to a factor of two. The approach has a variety of applications, but may be especially useful for calculating the distributed impact over time on household income, local taxes, employment, and other businesses.

Suggested Citation

  • Sam Cole, 1988. "The Delayed Impacts Of Plant Closures In A Reformulated Leontief Model," Papers in Regional Science, Wiley Blackwell, vol. 65(1), pages 135-149, January.
    • Handle: RePEc:bla:presci:v:65:y:1988:i:1:p:135-149
    DOI: 10.1111/j.1435-5597.1988.tb01162.x
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    Cited by:

    1. Severin Reissl & Alessandro Caiani & Francesco Lamperti & Mattia Guerini & Fabio Vanni & Giorgio Fagiolo & Tommaso Ferraresi & Leonardo Ghezzi & Mauro Napoletano & Andrea Roventini, 2022. "Assessing the Economic Impact of Lockdowns in Italy: A Computational Input–Output Approach [Nonlinear Production Networks with an Application to the Covid-19 Crisis]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(2), pages 358-409.
    2. Luc SAVARD & Dorothée BOCCANFUSO & Antonio ESTACHE, 2009. "Distributional Impact of CC Policies in Senegal : A Macro-Micro CGE application," EcoMod2009 21500082, EcoMod.
    3. repec:dgr:rugsom:04c01 is not listed on IDEAS
    4. Severin Reissl & Alessandro Caiani & Francesco Lamperti & Mattia Guerini & Fabio Vanni & Giorgio Fagiolo & Tommaso Ferraresi & Leonardo Ghezzi & Mauro Napoletano & Andrea Roventini, 2021. "Assessing the economic effects of lockdowns in Italy: a computational Input-Output approach," LEM Papers Series 2021/03, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Oosterhaven, Jan, 2002. "On the dynamics of net versus gross multipliers," ERSA conference papers ersa02p005, European Regional Science Association.
    6. Andre F. T. Avelino & Sandy Dall'erba, 2019. "Comparing the Economic Impact of Natural Disasters Generated by Different Input–Output Models: An Application to the 2007 Chehalis River Flood (WA)," Risk Analysis, John Wiley & Sons, vol. 39(1), pages 85-104, January.
    7. Maria Llop, 2012. "The role of saving and investment in a SAM price model," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 48(1), pages 339-357, February.
    8. Yasuhide Okuyama & Michael Sonis & Geoffrey Hewings, 2006. "Typology of structural change in a regional economy: a temporal inverse analysis," Economic Systems Research, Taylor & Francis Journals, vol. 18(2), pages 133-153.
    9. Sam Cole, 1994. "Cultural Accounting: An Example From A Small Caribbean Island," Contemporary Economic Policy, Western Economic Association International, vol. 12(4), pages 92-103, October.
    10. Oosterhaven, Jan, 2004. "On the definition of key sectors and the stability of net versus gross multipliers," Research Report 04C01, University of Groningen, Research Institute SOM (Systems, Organisations and Management).

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