EMPIRICAL TESTS OF SOME SEMI-SURVEY UPDATE PROCEDURES APPLIED TO RECTANGULAR INPUT-OUTPUT TABLES*

ABSTRACT. This paper examines the RAS, Mc Menamin and Haring, and Lagrange-multiplier update methods in the context of the dual accounting system of the rectangular input-output model. The motivation was to determine if the additional information contained in the dual system is exploitable, while maintaining the integrity of the rectangular structure with all its advantages. Tests were conducted on the performance of the various algorithms for a derivative Leontief model relative to their performance on the rectangular structure. The results obtained for rectangular tables were generally better than those obtained for the more conventional Leontief ones.     

CHEMICAL AND LEAD ISOTOPE ANALYSES OF GREEK LATE NEOLITHIC AND EARLY BRONZE AGE METALS

Results of a combined archaeological and analytical project of Late Neolithic/Early Bronze Age copper, bronze and lead artefacts from four distinct areas of mainland Greece are presented. The aim of the study is to understand better the stages of technological development of each region, their possible ore sources and also to assess any external contribution to or internal evolution of their metallurgy. Interesting results which could challenge the established view of Late Neolithic/Early Bronze Age metallurgy in the Greek mainland are presented.     

PRODUCTION TECHNOLOGY UNCERTAINTY AND THE OPTIMAL LOCATION OF THE FIRM*

ABSTRACT This paper investigates the implication of production-technology uncertainty for the exclusion theorem. The paper presents the result that the risk-averse firm facing production technology uncertainty prefers an intermediate location to avoid risk under certain conditions. The firm chooses an intermediate location (over a corner location) particularly if its degree of risk aversion overwhelms the inherent convexity of profit with respect to location. The latter depends, in turn, on the structure of production technology characterized by the elasticity of substitution and returns to scale parameters.     

THE EFFECTS OF LOCAL TAXES AND PUBLIC SERVICES ON RESIDENTIAL DEVELOPMENT PATTERNS*

ABSTRACT. This paper incorporates an exogenous taxing and service-providing public sector into a dynamic residential land-use model in order to examine how local-government fiscal policies alter the pace and pattern of residential development. The model is used to derive the comparative-dynamic responses to variations in the income, sales, and property taxes and public-service time paths. The results show how tax and expenditure effects systematically depend upon the anticipated relative growth rates in rents to alternative uses and vary across locations within a given urban area as well as across urban areas themselves.     

MEASURING THE EFFECT OF COST VARIATION ON INDUSTRIAL OUTPUTS*

ABSTRACT. This paper introduces the household interactive variable input-output (HIVIO) model to measure the effect of cost variation on industrial outputs. The model produces a variety of cost elasticities that separate out impacts on industrial prices, imports, and outputs, with “own” and “cross” elasticity components. Like the conventional input-output multipliers, these cost elasticities can be useful parameters to evaluate the substituting behavior of firms and consumers. By using the 1980 Korean input-output transactions table, we find the wage and import price effects on industrial prices, outputs, and import demands.