scholarly journals Questioning Abenomics and a Keynesian Approach to Japan’s Deflation Problem via Input-Output Analysis

2021 ◽  
Author(s):  
ONUR BIYIK
Keyword(s):  
Economic Policy ◽  
Economic Structure ◽  
Final Demand ◽  
Fiscal Sustainability ◽  
Japanese Economy ◽  
Demand Side ◽  
Input Output ◽  
Output Analysis ◽  
The Public ◽  
Economic Issues

Abstract Japan’s economy has had chronic deflation and high public debt problems so that it has been trying to handle its problems based on either the demand-side or the supply-side for more than two decades. This paper suggests that a perspective of Keynesian-inspired Japanese economic policy may positively impact a specific part of the economy such as demand-side solutions, as mentioned in Keynes’ theory. The Japanese economy is examined by applying the Input-Output (I/O) method in which the aggregated eleven-sector is arranged by using statistical data from the Ministry of Economy, Trade, and Industry (METI). Firstly, our analysis focuses mainly on the updated 2012 domestic I/O table in order to understand the Japanese economic structure by examining final demand elements and eleven sectors, associated with the Leontief method. Secondly, this paper then investigated comparing with Abenomics representing by a mix of the new Keynesian and neoliberal policies in order to comparatively analyzed between the current economic structure and the economic policy and lastly provided some discussions to figure out in perspective of how to solve some economic issues. Therefore, not only did this paper delineate three scenarios/keys through dominant final demand which account for the public consumption expenditures (PUCE) and the public gross fixed capital formation (PUGFC); the target of the growth rate -the automobile sector through PUGFC-, the employment rate -the commerce sector through PUCE-, and the import rate -the commerce sector through PUCE- based on the results of the data analyzed, but also comparatively examined Abenomics in order to provide some possible policy paths which highlight the demand-side remedies for the economic issues; structural reform in the fiscal sustainability, mainly wage increase (especially low and middle incomes), working practice (bringing back the mutual work environment), and fair tax system.

Planning with Semi-input-output Method with Empirical Application to Nigeria. By Arie Kuyvenhoven. Leiden: Martinus Nijhoff Social Sciences Division. 1978. xi + 266 pp.

1980 ◽  
Vol 19 (3) ◽  
pp. 247-249
Author(s):  
A. R. Kemal
Keyword(s):  
Social Sciences ◽  
Developing Countries ◽  
Final Demand ◽  
The Other ◽  
Production Structure ◽  
Input Output ◽  
Output Analysis ◽  
Input Output Analysis ◽  
Comparative Cost ◽  
Planning Models

Input -output analysis is being widely used in developing countries for planning purposes. For a given level of final demand, input-output analysis allows us to project the required level of gross output to ensure consistency of plan. These projections are made on the assumption that the existing production structure is optimal and it implies that an increase in demand will be met through the expansion of domestic output even when it can be satisfied through an increase in imports. On the other hand, according to the semi-input-output method, we do not have to increase the output of international sectors in order to meet the increase in demand because the level and composition of these activities should be determined by comparative- cost considerations. These are the only national sectors in which output must increase in order to avoid shortage. The semi-input -output method has been such a useful and important contribution, yet, regrettably, its influence on the planning models had been rather limited.

scholarly journals Structural Change in Kazakhstan Economy (2005-2009): An Analysis with Input-Output Model

2012 ◽  
Author(s):  
Tuncer Özdil ◽  
Ainura Turdalieva
Keyword(s):  
Structural Change ◽  
Structural Changes ◽  
Economic Structure ◽  
Total Efficiency ◽  
Input Output ◽  
Output Analysis ◽  
Wide Range ◽  
Production Techniques ◽  
The Republic ◽  
Product Effectiveness

One of the main objectives of economic policies of developing countries is implementing structural changes to enhance the economic development. Globalization as well as in all over the world, has accelerated this structural change in Kazakhstan. Despite the fact that concept of the economic structure is wide range, the structural change explained by the different approaches in the research, which is important in reflecting different aspects of the country's economic structure and in determining economic plans and policies. Under these circumstances an input - output analysis of economic structure is the main reason to write this paper. For this purpose, in the given research was used input-output tables prepared by the Agency of Statistics of the Republic of Kazakhstan for the period 2005-2009, to examine changes in the structure of economic production by industrial interdependence; changes in production techniques; the intermediate product effectiveness and total efficiency coefficients, to inform about structural changes in the economy and make contribution to policy and plan making process. Research based on analyze of input-output tables prepared by the Agency of Statistics of the Republic of Kazakhstan as a source of data for the years for 2005 and for 2009. For the purpose of the study structural changes were calculated and compared by industrial interdependence with the production techniques, intermediate production usage coefficients on sectoral and macro-level. Thereby, technical results obtained from the explanation of positive and negative aspects of production in Kazakhstan on sector basis, allows to give recommendations.

scholarly journals On the method for estimating technical coefficients of input-output analysis

2015 ◽  
Vol 1 (3) ◽  
pp. 8-12
Author(s):  
Do Van Sy ◽  
Bui The Tam ◽  
Nguyen Van Thieu
Keyword(s):  
Linear Programming ◽  
Numerical Data ◽  
Final Demand ◽  
Computational Results ◽  
Input Output ◽  
Analysis Model ◽  
Output Analysis ◽  
Input Output Analysis ◽  
Linear Programming Problems ◽  
Technical Coefficients

In this paper a new method is presented for estimating the technical coefficients of the input-output analysis model with six sectors by using  the statistical numerical data on the gross domestic product and the  final demand and solving the system of the linear programming problems. The computational results presented in this  paper are more precise than that of the others in the last time. 

The Balance of Payments

2017 ◽  
Author(s):  
Jim Tomlinson
Keyword(s):  
Twentieth Century ◽  
Economic Policy ◽  
Policy Issue ◽  
Institutional Arrangements ◽  
Balance Of Payments ◽  
The Public ◽  
Economic Issues ◽  
Economic Problems ◽  
Post War

This chapter traces the changing representation of the balance-of-payments ‘problem’ from the 1940s through the post-war period, and the reasons for its virtual disappearance as an important narrative about the economy in the last quarter of the twentieth century. The balance of payments is an especially striking case of both the malleability and partiality of narratives deployed to seek to persuade the public of the importance of an economic policy issue. This chapter also shows the possibility of long-standing economic ‘problems’, once deemed vital to the national economy’s management, disappearing from view as new ways of looking at economic issues, linked to changing institutional arrangements and doctrines, come to the fore.

Economic impacts of the hotel industry: an input-output analysis

2015 ◽  
Vol 70 (2) ◽  
pp. 132-149 ◽  
Author(s):  
Hyojin Kim ◽  
Byung-Gook Kim
Keyword(s):  
Hotel Industry ◽  
Economic Structure ◽  
The State ◽  
The Other ◽  
Labor Income ◽  
Input Output ◽  
Output Analysis ◽  
Content Type ◽  
Input Output Analysis ◽  
The Usa

Purpose – The purpose of this paper is to be limited to provide an overall economic structure linked with a particular hospitality industry by identifying the economic structure of relations between the two hotel industries and other industries within a particular state in the USA. Design/methodology/approach – The analyses of output, labor income and employment multipliers from the input–output system were performed using the IMPLAN 3.0 software. The study attempted to compare the hotel/motel industry (industry code 411) and the accommodations industry (industry code 412) with the top ten industries and averages of each set of multipliers to estimate the relative importance and contribution of the two hotel industries to the economy of Texas. After this comparison, the aggregated input–output tables and multipliers were prepared to determine the economic inter-relationship between the two combined hotel industries (industry code 411 plus industry code 412) and the non-hotel industries, using the criteria of the NAICS (North American Industry Classification System). Findings – The three findings of this study are summarized as follows. First, the two hotel industries impacted the state economy due to a high induced effect from output and a considerable direct, indirect and induced effect from labor income and employment, despite their relatively lower multipliers and the economic downturn in the state. Second, the hotel-related industry had a strong inter-dependent relationship with the finance and insurance-related industries. Finally, while the hotel industry generated more labor income and employment than did the other accommodations industry, it is interesting that the other accommodations industry created more output than did the hotel industry. Research limitations/implications – Other than limitations pertaining to assumptions of input-output model, an input-output analysis alone cannot become the best analytical method for decision-making. The study was a cross-sectional study with 2009 data and did not incorporate a time-series flow of the state economic structure over several decades. A study of the inter-relationship among varied states bordering the state could be worthwhile to identify the flow of inputs and outputs. Originality/value – Despite a considerable number of research in measuring the economic impacts, this paper was of great significance, in that the economic impact of the hotel industry that has never been performed in a particular state of the USA was analyzed. Additionally, these quantified economic data and results should be helpful to future plans and policies associated with the hotel industry.

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