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The persistent statistical structure of the US input–output coefficient matrices: 1963–2007

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  • Luis Daniel Torres-González
  • Jangho Yang

Abstract

The paper finds evidence for the existence of a statistical structure in the US input–output coefficient $ (\mathbf {A}) $ (A) matrices for 1963–2007 and characterizes the identified statistical regularities. For various aspects of $ \mathbf {A} $ A matrices, we find smooth and unimodal empirical distributions (EDs) with a remarkable stability in their functional form for most of the samples. The EDs of all entries, row sums, and the entries of the (left- and right-hand) Perron–Frobenius eigenvectors are well described by fat-tailed distributions, while the EDs of column sums and eigenvalues' moduli are explained by the normal and the beta distribution. The paper provides several economic interpretations of these statistical results as well as some implications and potential uses for structural and stochastic input–output analysis.

Suggested Citation

  • Luis Daniel Torres-González & Jangho Yang, 2019. "The persistent statistical structure of the US input–output coefficient matrices: 1963–2007," Economic Systems Research, Taylor & Francis Journals, vol. 31(4), pages 481-504, October.
    • Handle: RePEc:taf:ecsysr:v:31:y:2019:i:4:p:481-504
    DOI: 10.1080/09535314.2018.1561425
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    Cited by:

    1. Ferrer-Hernández , Jacobo & Torres-González, Luis Daniel, 2022. "Some Recent Developments on the Explanation of the Empirical Relationship between Prices and Distribution," Centro Sraffa Working Papers CSWP54, Centro di Ricerche e Documentazione "Piero Sraffa".
    2. Ferrer, Jacobo & Martínez-González, Adrián & Torres-González, Luis Daniel, 2024. "On the Role of Profits-Wages Ratios in the Determination of the Long-Run Behavior of International Relative Prices," Centro Sraffa Working Papers CSWP67, Centro di Ricerche e Documentazione "Piero Sraffa".
    3. Luis Daniel Torres-González, 2020. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Working Papers 2016, New School for Social Research, Department of Economics.
    4. Anwar Shaikh & Luiza Nassif, 2018. "Eigenvalue distribution, matrix size and the linearity of wage-profit curves," Working Papers 1812, New School for Social Research, Department of Economics.
    5. Torres-González, Luis Daniel, 2022. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 622-659.
    6. Luis Daniel Torres-Gonzalez & Jacobo Ferrer-Hernandez & Adrian Martınez, 2022. "On the Long-Run Neutrality of Profits-Wages Ratios in the Determination of International Relative Prices Under Absolute Advantages," Working Papers 2208, New School for Social Research, Department of Economics.

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