A key role for input-output analysis in policy design

William J. Baumol, Edward Wolff

    Research output: Contribution to journalArticle

    Abstract

    Input-output analysis becomes indispensable for rational policy formulation where two conditions hold: (1) inputs as well as outputs enter society's objective function directly (as in the case of employment, limited energy resources or pollution): and (2) where the economy in question is open, so that macroeconomic policy is largely powerless to increase employment or to influence the use of other inputs. Three issues will be used as examples: attempts to reduce petroleum use through subsidies for other energy sources, attempts to reduce the polluting emissions of production processes, and attempts to stimulate employment in Puerto Rico.

    Original languageEnglish (US)
    Pages (from-to)93-113
    Number of pages21
    JournalRegional Science and Urban Economics
    Volume24
    Issue number1
    DOIs
    StatePublished - 1994

    Fingerprint

    input-output analysis
    economic policy
    Puerto Rico
    energy source
    production process
    energy resource
    macroeconomics
    subsidy
    petroleum
    energy
    pollution
    economy
    society
    resources
    policy
    Input-output analysis
    Policy design

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    A key role for input-output analysis in policy design. / Baumol, William J.; Wolff, Edward.

    In: Regional Science and Urban Economics, Vol. 24, No. 1, 1994, p. 93-113.

    Research output: Contribution to journalArticle

    Baumol, William J. ; Wolff, Edward. / A key role for input-output analysis in policy design. In: Regional Science and Urban Economics. 1994 ; Vol. 24, No. 1. pp. 93-113.
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