Are the Coefficients Stationary?
Author InfoSawyer, John A Abstract The incorporation of an input-output matrix into a macroeconomic forecasting model is a common practice. Are the input-output coefficients stationary, however? This study uses a set of 27 annual input output matrices for Canada for the period 1961-87 to explore this question. It is found that, for 64 major coefficients for goods-producing industries, the majority have time trends with autocorrelated deviations from trend. In many cases the trend can be explained by relative price variations or by the movement of income per person. It is also found that, contrary to an earlier study, value coefficients are no more stable than are volume coefficients. It is recommended that this time series behaviour of input output coefficients be taken into account when forecasting. Copyright 1992 by Taylor and Francis Group Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options: 1. Check below
