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Development of integrated intersectoral-time series strategies to investigate the economic significance of knowledge sectors in the Illawarra, New South Wales

Conference Paper


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Abstract


  • Integrating input-output (IO) analysis and econometric model has become increasingly

    popular for it combines the advantages of both models (Isard & Anselin, 1982; Moghadam &

    Ballard, 1988; Beaumont, 1990; Coomes et al., 1991; West, 1991; Treyz, 1993; Israilevich et

    al., 1996; Rey, 1998; Motii, 2005). There are a number of strategies through which an IO

    analysis is merged with an econometric model. This paper examines two strategies to build

    an integrated input-output econometric (IO-EC) model, namely coupling and holistic

    embedding, from both theoretical and practical perspectives. Each strategy is analysed based

    on their simulation and forecasting performance. Both strategies are applied to investigate the

    economy of the Illawarra region of New South Wales, Australia. This paper conducts a series

    of ex-post forecasting experiments. Each strategy is examined based on their forecasting

    performance and the accuracy of their impact analysis. Each strategy is applied to a

    hypothetical scenario of increased government expenditure on knowledge sectors, to

    investigate their significance in terms of sectoral employment, value added, income, and

    gross regional output.

Publication Date


  • 2013

Citation


  • Masouman, A. & Harvie, C. (2013). Development of integrated intersectoral-time series strategies to investigate the economic significance of knowledge sectors in the Illawarra, New South Wales. In D. Butler & M. Mangano (Eds.), The 42nd Australian Conference of Economists Conference Proceedings (pp. 1-28). Perth, Australia: Murdoch University.

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1216&context=buspapers

Ro Metadata Url


  • http://ro.uow.edu.au/buspapers/214

Start Page


  • 1

End Page


  • 28

Abstract


  • Integrating input-output (IO) analysis and econometric model has become increasingly

    popular for it combines the advantages of both models (Isard & Anselin, 1982; Moghadam &

    Ballard, 1988; Beaumont, 1990; Coomes et al., 1991; West, 1991; Treyz, 1993; Israilevich et

    al., 1996; Rey, 1998; Motii, 2005). There are a number of strategies through which an IO

    analysis is merged with an econometric model. This paper examines two strategies to build

    an integrated input-output econometric (IO-EC) model, namely coupling and holistic

    embedding, from both theoretical and practical perspectives. Each strategy is analysed based

    on their simulation and forecasting performance. Both strategies are applied to investigate the

    economy of the Illawarra region of New South Wales, Australia. This paper conducts a series

    of ex-post forecasting experiments. Each strategy is examined based on their forecasting

    performance and the accuracy of their impact analysis. Each strategy is applied to a

    hypothetical scenario of increased government expenditure on knowledge sectors, to

    investigate their significance in terms of sectoral employment, value added, income, and

    gross regional output.

Publication Date


  • 2013

Citation


  • Masouman, A. & Harvie, C. (2013). Development of integrated intersectoral-time series strategies to investigate the economic significance of knowledge sectors in the Illawarra, New South Wales. In D. Butler & M. Mangano (Eds.), The 42nd Australian Conference of Economists Conference Proceedings (pp. 1-28). Perth, Australia: Murdoch University.

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1216&context=buspapers

Ro Metadata Url


  • http://ro.uow.edu.au/buspapers/214

Start Page


  • 1

End Page


  • 28