A pluralist perspective on input-output modeling: searching for commensurability

Jakob Kapeller and Franz Scharnreitner ()
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Franz Scharnreitner: Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria

No 169, ICAE Working Papers from Johannes Kepler University, Institute for Comprehensive Analysis of the Economy

Abstract: This paper revisits paradigmatic differences in economics with a focus on input-output modeling. We show that such differences represent deep divides in economic theorizing and impact strongly on the magnitude and signs of expected effects. At the same time estimates from input-output models are crucial for understanding the expected economic impacts of additional investment undertaken in the course of a socio-ecological transformation aiming to render social provisioning processes carbonneutral. Taking the transformation of the German housing sector as a practical example this paper illustrates the divergence between typical results obtained and explores two central axiomatic variations of a neoclassical approach - the introduction of CES-functions as well as labor slack - that promise to explore some middle ground in between established approaches. Thereby we hope to better illuminate how different axiomatic setups imprint on estimates of the economic effects of ecologically motivated transformation efforts to provide applied researchers with better guidance when it comes to choosing foundational model assumptions.

Date: 2025-10
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