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A Social Accounting Matrix for Italy

Giovanni Federico () and Kevin O'Rourke ()

Working Papers from College Dublin, Department of Political Economy-

Abstract: Computable general equilibrium (CGE)models require both theory and data. The theory underlying our model is standard general equilibrium theory, and details will be provided elsewhere. The sole purpose of this paper is to present in detail the data used to calibrate this model. We have constructed a basic social accounting matrix for Italy in 1911; that is, we have estimated all input, output, expenditure, trade and income flows for the economy in that year. These flows are all mutually consistent, and it is these data which will largely drive the results of our experiments. The social accounting matrix is very simple in that it only allows for two economic agents in the economy: the private sector and the government.

Keywords: GENERAL EQUILIBRIUM; ECONOMETRIC MODELS; PRODUCTION; INCOME; TRADE; ITALY (search for similar items in EconPapers)
JEL-codes: C50 C60 E2 D50 (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:dublec:98/19

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