Merging the Hypothetical Extraction Method and the Classical Multiplier Approach: A Hybrid Possibility for Identifying Key Distributive Sectors

The two main alternative methods used to identify key sectors within the input- output approach, the Classical Multiplier method (CMM) and the Hypothetical Extraction method (HEM), are formally and empirically compared in this paper. Our findings indicate that the main distinction between the two approaches stems from the role of the internal effects. These internal effects are quantified under the CMM while under the HEM only external impacts are considered. In our comparison, we find, however that CMM backward measures are more influenced by within-block effects than the proposed forward indices under this approach. The conclusions of this comparison allow us to develop a hybrid proposal that combines these two existing approaches. This hybrid model has the advantage of making it possible to distinguish and disaggregate external effects from those that a purely internal. This proposal has also an additional interest in terms of policy implications. Indeed, the hybrid approach may provide useful information for the design of ''second best'' stimulus policies that aim at a more balanced perspective between overall economy-wide impacts and their sectoral distribution.Sectoral linkages, Key sectors, Extraction methods, Multiplier methods.

Effects of Competition over Quality-Adjusted Price Indexes: An Application to the Spanish Automobile Market

Using a newly constructed data set, we calculate quality-adjusted price indexes after estimating hedonic price regressions from 1988 to 2004 in the Spanish automobile market. The increasing competition was favoured by the removal of trade restrictions and the special plans for the renewal of the Spanish automobile fleet. We find that the increasing degree of competition during those years led to an overall drop in automobile prices by 20 percent which implied considerable consumer gains thanks to higher market efficiency. Additionally, our results indicate that loyalty relevance and discrepancies in automobile reliability declined during those years. This is captured

Revisiting The Original Ghosh Model: Can It Be More Plausible?

We reconsider in this paper the alleged implausibility of Ghosh’s model and we do so reformulating the model to incorporate an alternative closure rule. Our proposed closure rule is in line with the original allocation rules defined by A. Ghosh. The closure solves, to some extent, the implausibility problem that was pointed out by Oosterhaven for then value–added is correctly computed and responsive to allocation changes resulting from supply shocks. Some numerical examples illustrate the sectoral and aggregate consistency of the allocation equilibrium.Multi-sectoral Input-Output Models, Market Economy, Planned Economy

RETHINKING ECONOMY-WIDE REBOUND MEASURES: AN UNBIASED PROPOSAL

In spite of having been first introduced in the last half of the ninetieth century, the debate about the possible rebound effects from energy efficiency improvements is still an open question in the economic literature. This paper contributes to the existing research on this issue proposing an unbiased measure for economy-wide rebound effects. The novelty of this economy-wide rebound measure stems from the fact that not only actual energy savings but also potential energy savings are quantified under general equilibrium conditions. Our findings indicate that the use of engineering savings instead of general equilibrium potential savings downward biases economy-wide rebound effects and upward-biases backfire effects. The discrepancies between the traditional indicator and our proposed measure are analysed in the context of the Spanish economy.

A COMPARISON OF INPUT-OUTPUT MODELS:GHOSH REDUCES TO LEONTIEF (BUT 'CLOSING' GHOSH MAKES IT MORE PLAUSIBLE)

Ghosh's model is discussed in this paper under two alternative scenarios. In an open version we compare it with Leontief's model and prove that they reduce to each other under some specific productive conditions. We then move onto reconsidering Ghosh's model alleged implausibility and we do so reformulating the model to incorporate a closure rule. The closure solves, to some extent, the implausibility problem very clearly put out by Oosterhaven for then value-added is correctly computed and responsive to allocation changes resulting from supply shocks.Multi-sectoral Input-Output Models, Market Economy, Planned Economy.

BUDGET CONSTRAINED EXPENDITURE MULTIPLIERS

We show that standard expenditure multipliers capture economy-wide effects of new government projects only when financing constraints are not binding. In actual policy making, however, new projects usually need financing. Under liquidity constraints, new projects are subject to two opposite effects: an income effect and a set of spending substitution effects. The former is the traditional, unrestricted, multiplier effect; the latter is the result of expenditure reallocation to upheld effective financing constraints. Unrestricted multipliers will therefore be, as a general rule, upward biased and policy designs based upon them should be reassessed in the light of the countervailing substitution effects.Government multipliers, fiscal stimulus, expenditures substitution effects

A NON-POSSIBILITY THEOREM FOR JOINT-STABILITY IN INTERINDUSTRY MODELS

Joint-stability in interindustry models relates to the mutual simultaneous consistency of the demand-driven and supply-driven models of Leontief and Ghosh, respectively. Previous work has claimed joint-stability to be an acceptable assumption from the empirical viewpoint, provided only small changes in exogenous variables are considered. We show in this note, however, that the issue has deeper theoretical roots and offer an analytical demonstration that shows the impossibility of consistency between demand-driven and supply- driven models.: Interindustry modeling, joint-stability, demand-driven, supply-driven.

Young farmers as innovation enablers in rural areas : the role of EU’s support in a portuguese peripheric region, Trás-os-Montes

Mestrado em Economia Internacional e Estudos EuropeusA União Europeia tem sugerido várias abordagens e soluções para a diminuição de assimetrias regionais e para o desenvolvimento das zonas rurais dos seus Estados Membros. O objetivo principal deste Trabalho Final de Mestrado é estudar uma dessas medidas, o Programa Jovens Agricultores, numa zona rural e periférica de Portugal, Trás-os-Montes. Esta região necessita de iniciativas como a do Programa Jovens Agricultores para reverter os fenómenos de envelhecimento e despovoamento e para tornar o estilo de vida rural atrativo para as gerações mais novas, incentivando-as a fixarem-se a longo prazo. Mas serão, de facto, estes jovens agricultores um vetor de inovação e modernização para Trás-os-Montes? Terão uma consciencialização ambiental e sustentável sólida? O uso digital será já uma realidade? Estarão os principais dirigentes associativos a encorajar um desenvolvimento sustentável na região? Conhecerá esta nova geração o modelo de economia circular? E tencionará adotar as suas práticas? A tentativa de resposta a estas questões é feita através dos resultados de um inquérito por questionário distribuído a uma amostra representativa de jovens agricultores e através de entrevistas aos seus principais dirigentes associativosThe European Union has come forward with many suggestions and approaches to decrease regional asymmetries and develop rural areas around member states. The main purpose of this dissertation is to study one of these measures, the Young Farmers Program, in a rural and peripheric region of Portugal, Trás-os-Montes. Since the ageing and depopulation phenomenon is one of this region?s biggest threats, initiatives like the Young Farmers Program might represent a gradual reversion and it might contribute to the attractiveness of the rural lifestyle for the younger generations, which is perhaps the region?s most crucial necessity. But do these farmers truly bring innovation and modernization to Trás-os-Montes? Do they have a significant environmental and sustainability awareness? Is the digital usage already a reality? Are the associative leaders encouraging the sustainable development of the region? Is this new generation aware of the meaning and potentialities of the circular economy? Does it intend to adopt its innovative and modern practices? A tentative answer to these questions is searched by means of a detailed survey by questionnaire to a representative sample of young farmers in the region and by directly interviewing their main associative leaders.info:eu-repo/semantics/publishedVersio

Acuidade de eletrocardiograma no diagnóstico de hipertrofia ventricular esquerda em indivíduos hipertensos no distrito de Portalegre

Mestrado em Gestão e Avaliação de Tecnologias em Saúde.A hipertrofia ventricular esquerda (HVE) é um preditor robusto e independente de morbilidade e mortalidade cardiovascular. O eletrocardiograma (ECG) é a técnica mais acessível para o diagnóstico desse processo patológico. Este trabalho teve por objetivo comparar a acuidade de diagnóstico de HVE em indivíduos com Hipertensão Arterial (HTA) de dois critérios eletrocardiográficos: o critério de Sokolow-Lyon e o critério de Cornell. Foram analisados ecocardiogramas de 83 indivíduos hipertensos. Estimaram-se a sensibilidade e especificidade dos critérios eletrocardiográficos para homens e mulheres. A partir da metodologia Receiver Operating Characteristic Curves (Curva ROC) avaliou-se o desempenho do diagnóstico de HVE definido pelo critério ecocardiográfico indexado à superfície corporal (SC) (≥116g/m2 nos homens e 96g/m2 nas mulheres). Na amostra de 83 indivíduos hipertensos a prevalência de HTA foi de 57% (53% no sexo masculino e 60% no sexo feminino). O critério eletrocardiográfico de Sokolow-Lyon para o sexo masculino apresentou uma sensibilidade de 15% e especificidade 100% e no sexo feminino uma sensibilidade de 11% e uma especificidade de 83%, para o diagnóstico de HVE. O critério de Cornell para o sexo masculino apresentou sensibilidade de 10% e especificidade de 94%; quanto ao sexo feminino apresentou uma sensibilidade de 26% e uma especificidade de 83%. Relativamente ao desempenho dos dois critérios eletrocardiográficos para diagnóstico de HVE, em termos globais pode dizer-se que o critério de Sokolow-Lyon apresenta um desempenho superior ao critério de Cornell. Dado que os dois critérios eletrocardiográficos apresentam baixa sensibilidade para diagnóstico de HVE em doentes com HTA, em termos de Avaliação de Tecnologias em Saúde (ATS) é importante ter em atenção que o diagnóstico de HVE em doentes hipertensos não deve ser baseado só no ECG, devem ser feitos outros exames complementares de diagnóstico.ABSTRACT - Left ventricular hypertrophy (LVH) is an independent and robust predictor of cardiovascular morbidity and mortality. The electrocardiogram (ECG) is the technique more accessible for the diagnosis of this condition. This study aimed to compare the diagnostic accuracy two electrocardiographic criteria for LVH: the Sokolow-Lyon criteria and the Cornell criteria. We analyzed 83 echocardiograms of hypertensive individuals and estimated the sensitivity and specificity of the electrocardiographic criteria for men and women separately. Using Receiver Operating Characteristic Curves (ROC curve) analysis it was compared the performance of the diagnostic ECG criteria for the LVH diagnosis defined by echocardiographic left ventricular mass indexed to body surface (SC) ≥ 96g/m2 in men and 116g/m2 in women. The Sokolow-Lyon criteria for males had a sensitivity of 15% and a specificity of 100%, and in females had a sensitivity of 11% and a specificity of 83%. The Cornell criteria for males had a sensitivity of 10% and a specificity of 94%, and in females had a sensitivity of 26% and a specificity of 83% for the diagnosis of LVH. Regarding the performance of the two electrocardiographic criteria for the diagnosis of LVH, overall it can be said that the Sokolow-Lyon criteria outperformed the Cornell criteria. As both electrocardiographic criteria showed low sensitivity for diagnosis of LVH, in terms of Technology Assessment in Health (HTA) it is important to note that the diagnosis of LVH in hypertensive patients should not be done only by ECG, and require more diagnostic exams

An operational, nonlinear input-output system

We develop a scale-dependent nonlinear input-output model which is a practical alternative to the conventional linear counterpart. The model contemplates the possibility of different assumptions on returns to scale and is calibrated in a simple manner that closely resembles the usual technical coefficient calibration procedure. Multiplier calculations under this nonlinear version offer appropriate interval estimates that provide information on the effectiveness and variability of demand-driven induced changes in equilibrium magnitudes. In addition, and unlike linear multipliers, the nonlinear model allows us to distinguish between physical and cost effects, the reason being that the traditional dichotomy between the price and quantity equations of linear models no longer holds. We perform an empirical implementation of the nonlinear model using recent interindustry data for Brazil, China and United States. When evaluating the robustness of the derived marginal output multipliers and the induced costs effects under the nonlinear approach, the results indicate that marginal indicators in physical terms can be perfectly used to infer average impacts; this is not the case, however, for the derived costs effects where average measures are seen to be more adequate. At the computational level, the analysis proves the operational applicability of the nonlinear system while at the methodological level shows that scale effects are relevant in determining sectoral multiplier