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Modeling Unexpected Events in Temporally Disaggregated Econometric Input-Output Models of Regional Economies

Author

Listed:
  • Kieran P. Donaghy
  • Nazmiye Balta-Ozkan
  • Geoffrey J.D. Hewings

Abstract

Discrete-time econometric input-output models of regional economies, such as Regional Econometric Input-Output Models (REIMs), have been used to examine the impacts over time of unexpected (and usually extreme) events. Analyses carried out with such models have been limited, in part, because of their temporal orientation and their somewhat a-theoretical specification. In this paper we review how REIMs can accommodate disequilibrium adjustments in economies to unexpected events and then discuss analytical contributions made by sequential interindustry models (SIMs) before presenting the case for using continuous-time formulations of REIMs to capture both events with impacts over periods that are shorter than the observation/solution interval of the model and nonlinear continuous event recovery processes.

Suggested Citation

  • Kieran P. Donaghy & Nazmiye Balta-Ozkan & Geoffrey J.D. Hewings, 2007. "Modeling Unexpected Events in Temporally Disaggregated Econometric Input-Output Models of Regional Economies," Economic Systems Research, Taylor & Francis Journals, vol. 19(2), pages 125-145.
    • Handle: RePEc:taf:ecsysr:v:19:y:2007:i:2:p:125-145
    DOI: 10.1080/09535310701328484
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    References listed on IDEAS

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    1. F. M. Fisher, 1970. "Simultaneous Equations Estimation: The State of the Art," Working papers 55, Massachusetts Institute of Technology (MIT), Department of Economics.
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    Cited by:

    1. Jinwen Qiu & Wenjian Liu & Ning Ning, 2020. "Evolution of Regional Innovation with Spatial Knowledge Spillovers: Convergence or Divergence?," Networks and Spatial Economics, Springer, vol. 20(1), pages 179-208, March.
    2. Olaf Jonkeren & Georgios Giannopoulos, 2014. "Analysing Critical Infrastructure Failure With A Resilience Inoperability Input--Output Model," Economic Systems Research, Taylor & Francis Journals, vol. 26(1), pages 39-59, March.
    3. Manfred Lenzen & Mengyu Li & Arunima Malik & Francesco Pomponi & Ya-Yen Sun & Thomas Wiedmann & Futu Faturay & Jacob Fry & Blanca Gallego & Arne Geschke & Jorge Gómez-Paredes & Keiichiro Kanemoto & St, 2020. "Global socio-economic losses and environmental gains from the Coronavirus pandemic," PLOS ONE, Public Library of Science, vol. 15(7), pages 1-13, July.
    4. Andre Fernandes Tomon Avelino, 2017. "Disaggregating input–output tables in time: the temporal input–output framework," Economic Systems Research, Taylor & Francis Journals, vol. 29(3), pages 313-334, July.
    5. Araujo, Inacio F. & Donaghy, Kieran P. & Haddad, Eduardo A. & Hewings, Geoffrey J.D., 2024. "Geographical Propagation of the Economic Impacts of the ISIS Conflict in Iraq," TD NEREUS 6-2024, Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS).
    6. Linn Svegrup & Jonas Johansson & Henrik Hassel, 2019. "Integration of Critical Infrastructure and Societal Consequence Models: Impact on Swedish Power System Mitigation Decisions," Risk Analysis, John Wiley & Sons, vol. 39(9), pages 1970-1996, September.
    7. Randall Jackson & Sergio Rey & Péter Járosi, 2016. "Object Orientation, Open Regional Science,and Cumulative Knowledge Building," Working Papers Working Paper 2016-02, Regional Research Institute, West Virginia University.
    8. Iman Rahimi Aloughareh & Mohsen Ghafory Ashtiany & Kiarash Nasserasadi, 2016. "An Integrated Methodology For Regional Macroeconomic Loss Estimation Of Earthquake: A Case Study Of Tehran," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(04), pages 1-24, September.

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