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Regional Economics: Theory and Practice
 

The problem of measuring the quantity of output in the inputoutput model by W. Leontief in modeling the trends in economic reproduction of nations and regions

Vol. 19, Iss. 8, AUGUST 2021

Received: 17 May 2021

Received in revised form: 28 June 2021

Accepted: 9 July 2021

Available online: 16 August 2021

Subject Heading: ECONOMIC-MATHEMATICAL MODELING

JEL Classification: B16, B51, D57

Pages: 15681592

https://doi.org/10.24891/re.19.8.1568

Subject. This article deals with the problem of constructing a Leontief's inputoutput matrix.
Objectives. The article aims to determine the rules for constructing a Leontief's inputoutput matrix on the basis of data on production time and quantity of product output.
Methods. For the study, I used the methods of logical and mathematical analyses.
Results. The article formulates the rules for constructing a Leontief's inputoutput matrix, taking into account differences in the time of production, quantity of output, as well as the conditions for the reproduction of the resources expended. It summarizes these rules for the J. von Neumann model.
Conclusions. The proposed approach to the analysis of the material mechanism of economic reproduction defines the relationship between the quantitative and cost characteristics of the production and consumption of products and resources. This relationship opens up new opportunities for the application of inputoutput models to create simple and accurate algorithms for identifying and predicting the macroeconomic trends.

Keywords: Leontief's model, inter-industry balance, inputoutput matrix, reproduction, theory of value

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