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Increasing the Timeliness of US Annual Input-Output Accounts

Author

Listed:
  • Mark Planting
  • Jiemin Guo

Abstract

The timeliness of the US input-output (I-O) accounts is a major concern for policymakers and industry analysts, as well as academics. In response, the Bureau of Economic Analysis initiated research in 2001 to identify, develop and implement an estimating method for producing more timely and reliable annual I-O accounts than are currently available. The research included reviewing the frameworks and methods currently used by other statistical agencies and academic researchers, obtaining more timely industry source data, and developing enhanced methods and processes for the automated updating and balancing of annual I-O tables. The results of this research indicate that our new automated updating and balancing method can reduce the time lag for producing the annual I-O accounts from three years to one year without reducing quality. Our method is based on an adjusted RAS process that simultaneously balances the I-O table in producers' and purchasers' prices; uses more exogenous data; and processes tables at the most detailed level.

Suggested Citation

  • Mark Planting & Jiemin Guo, 2004. "Increasing the Timeliness of US Annual Input-Output Accounts," Economic Systems Research, Taylor & Francis Journals, vol. 16(2), pages 157-167.
    • Handle: RePEc:taf:ecsysr:v:16:y:2004:i:2:p:157-167
    DOI: 10.1080/0953531042000219286
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    Cited by:

    1. Sargento, Ana Lúcia Marto & Lahr, Michael L. & Ferreira, João Pedro & de la Torre Cuevas, Fernando, 2024. "Revisiting methods for estimating interregional input-output accounts: It's not just about trade flows," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 664-677.
    2. Casiano A. Manrique-de-Lara-Peñate & Dolores R. Santos-Peñate, 2017. "SAM updating using multi-objective optimization techniques," Papers in Regional Science, Wiley Blackwell, vol. 96(3), pages 647-667, August.

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