Multiplier analysis based upon the information contained in Leontief's inverse is undoubtedly part of the core of the input-output methodology and numerous applications an extensions have been developed that exploit its informational content. Nonetheless there are some implicit theoretical...

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...

Actual tax systems do not follow the normative recommendations of yhe theory of optimal taxation. There are two reasons for this. Firstly, the informational difficulties of knowing or estimating all relevant elasticities and parameters. Secondly, the political complexities that would arise if a...

In this paper we follow the tradition of applied general equilibrium modelling of the Walrasian static variety to study the empirical viability of a double dividend (green, welfare, and employment) in the Spanish economy. We consider a counterfactual scenario in which an ecotax is levied on the...

The problem of lack of competitiveness has become one of the main concerns of European governments. This is reflected trough out the Europe 2020 Strategy that includes as key priority the promotion and efficient and productive use of inputs. Differently to other ?well-behaved? European...

This advanced textbook provides a straightforward but comprehensive introduction to applied general equilibrium modeling. General equilibrium is the backbone of modern economic analysis, which is why generation after generation of economics students have been introduced to it. As an analytical...

This year marks the 25th anniversary of the International Input--Output Association and the 25th volume of <italic>Economic Systems Research</italic>. To celebrate this anniversary, a group of eight experts provide their views on the future of input--output. Looking forward, they foresee progress in terms of...

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...