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Effects of Exogenous Price Changes on a Regional Economy: An Input-Output Analysis

Author

Listed:
  • Gene K. Lee

    (Economic Research Service U.S. Department of Agriculture Washington, D.C. 20250 U.S.A.)

  • Leroy L. Blakeslee

    (Walter R. Butcher Department of Agricultural Economics Washington State University Pullman, Washington 99163 U.S.A.)

  • Walter R. Butcher

    (Walter R. Butcher Department of Agricultural Economics Washington State University Pullman, Washington 99163 U.S.A.)

Abstract

THIS PAPER DESCRIBES A METHOD FOR INCORPORATING EXOGENOUS PRICE CHANGES INTO INPUT-OUTPUT ANALYSIS AND THEREBY ESTIMATING THEIR IMPACT ON A REGIONAL ECONOMY. THE EMPIRICAL RESULTS DEMONSTRATE THAT WHEN THE PRICES OF WHEAT, ELECTRICITY, PETROLEUM, AND NATURAL GAS ARE INCREASED BY EXOGENOUS FORCES, THEIR EFFECTS ON WASHINGTON STATE'S ECONOMY ARE SIGNIFICANT AND DIVERSE. THE METHOD CAN BE MODIFIED TO ENABLE ITS USE FOR FORECASTING ENDOGENOUS PRICE CHANGES, UNDER CERTAIN ASSUMPTIONS.

Suggested Citation

  • Gene K. Lee & Leroy L. Blakeslee & Walter R. Butcher, 1977. "Effects of Exogenous Price Changes on a Regional Economy: An Input-Output Analysis," International Regional Science Review, , vol. 2(1), pages 15-27, October.
    • Handle: RePEc:sae:inrsre:v:2:y:1977:i:1:p:15-27
    DOI: 10.1177/016001767700200102
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    Citations

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    Cited by:

    1. Sharify, Nooraddin & Sancho, Ferran, 2011. "A new approach for the input–output price model," Economic Modelling, Elsevier, vol. 28(1), pages 188-195.
    2. Findeis, Jill & Whittlesey, Norman K., 1982. "Competition Between Irrigated Agriculture And Hydroelectric Power Production: Implications For Economic Growth," 1982 Annual Meeting, August 1-4, Logan, Utah 279223, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Findeis, Jill L., 1983. "Input-Output Analysis: A Methodology for Assessing Short Run Changes in Exogenous Prices, Output, and Final Demand," AE & RS Research Reports 257691, Pennsylvania State University, Department of Agricultural Economics and Rural Sociology.

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