Introduction to Regional Input-Output Model
+ X - 서울대학교 농경제사회학부 지역정보전공
+ X - 서울대학교 농경제사회학부 지역정보전공
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Keynesian <strong>Regional</strong> Multiplier<br />
Income = Aggregate Demand<br />
Y = C (Consumption) + I (Investment) + G (Gov. Exp.)<br />
+ X (Export) – M (Import)<br />
• C=a+bY, M=c+dY<br />
Y = a + b(1-t)Y + I + G + X – c – d(1-t)Y<br />
Y = (a – c + I + G + X) / [1 – (b - d)(1-t)]<br />
Keynesian multiplier k=1/[(1-(b-d)(1-t)]<br />
• An exogenous increase in I of $1 will increase Y by k=1/[1-(bd)(1-t)].<br />
• b-d : marginal propensity <strong>to</strong> consume locally produced good<br />
Application:<br />
ΔY = Δ(a –c + I + G + X)/[1- (b–d)(1-t)]
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