Updating Input-Output Tables with Benchmark Table Series

Huiwen Wang, Cheng Wang, Haitao Zheng, Haoyun Feng, Rong Guan and Wen Long

Economic Systems Research, 2015, vol. 27, issue 3, 287-305

Abstract: Numerous methods have been proposed to update input-output (I-O) tables. They rely on the assumption that the economic structure will not change significantly during the interpolation period. However, this assumption may not always hold, particularly for countries experiencing rapid development. This study attempts to combine forecasting with a matrix transformation technique (MTT) to provide a new perspective on updating I-O tables. Under the assumption that changes in the trend of an economic structure are statistically significant, the method extrapolates I-O tables by combining time series models with an MTT and proceeds with only the total value added during the target years. A simulation study and empirical analysis are conducted to compare the forecasting performance of the MTT to the Generalized RAS (GRAS) and Kuroda methods. The results show that the comprehensive performance of the MTT is better than the performance of the GRAS and Kuroda methods, as measured by the Standardized Total Percentage Error, Theil's U and Mean Absolute Percentage Error indices.

Date: 2015
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1080/09535314.2015.1053846 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:ecsysr:v:27:y:2015:i:3:p:287-305

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CESR20

DOI: 10.1080/09535314.2015.1053846

Access Statistics for this article

Economic Systems Research is currently edited by Bart Los and Manfred Lenzen

More articles in Economic Systems Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().