Oosterhaven, Jan - In: Papers in Regional Science 79 (2000) 2, pp. 233-242
Cole (1989, 1997, 1999) advocates the introduction of expenditure lags and the fullest possible closure of single-region input-output models. Jackson et al. (1997, 1999) claim that closing also with regard to the Rest-of-the-World leads to inconsistencies and zero exogenous demand, which makes...