Sectoral productivity in Hungarian economy: an input-output linkages approach

Propagation of Financial Shocks in an Input-Output Economy with Trade and Financial Linkages of Firms

Because of delays to input payments, production linkages coincide with trade credit linkages. This paper investigates how these interconnected production and financial linkages of firms propagate shocks upstream and downstream in an input-output model. Theoretically, I obtain that financial frictions in trade and financial linkages of firms are necessary features for generating strong upstream ...

An Input-output Approach to the Measurement of Productivity Differences*

This paper deals with the measurement of e¢ciency di¤erences among countries within a federation. The key tool is the use of a suitable interpretation of the non-substitution theorem in order to get a natural technological standard. Two alternative indices are proposed. One provides a structural productivity measure, independent of consumption and prices. The other consists of a price index ass...

Dynamic Sectoral Linkages and Structural Change in a Developing Economy

The literature on the stylised facts of structural change in LDCs has been bedevilled by three problems: (i) drawing time-series inferences from cross-section results; (ii) endogeneity of the variables involved; and (iii) an inability to separate short-run from long-run effects. This paper uses time-series econometric techniques to address each of these problems investigating linkages between a...

Input versus Output Taxation in an Experimental International Economy

This paper presents the results of a policy oriented macroeconomic experiment involving an ‘international’ economy with a relatively small ‘home’ country and a large ‘foreign’ country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a wage tax system versus a sales-tax-cum-labor-subsidy system. The two systems are applied to the s...

An institutional approach and input–output analysis for explaining the transformation of the Turkish economy