Input-output tables are the cores of input-output analytical techniques. It requires much of time and labor to collect data for the input-output tables. Thus it usually costs 2 or 3 or more years to complete and release the input-output tables of the year, which is called as the famous 'Delay Problem' for the input-output tables. For this problem, researchers have to make an assumption that the direct consumption coefficient keeps stable for a long time when conducting the analysis of input-output, which is obviously against the real economic development.
The research team led by Professor WANG Huiwen firstly discusses the change rule of the direct consumption coefficient and input-output values, combine the forecasting technique for time series with a matrix transformation technique, develop a new method to update input-output tables. It has shown that the comprehensive performance of the new method is better that other methods, which provide a more efficient method for the work of input-output tables.
Under the title of ' Updating Input-Output Tables with Benchmark Table Series,' this study publishes in the journal of 'Economic Systems Research' (impact factor: 3.605, ranked 10/333 in economics in JCR in 2015) online.
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This study is contributed by Professor WANG Huiwen, Ph.D. student WANG Cheng, Associate Professor ZHENG Haitao, Dr. FENG Haoyun (Notre Dame University), Dr. GUAN Rong ( Central University of Finance and Economics), and Associate Researcher and Dr. LONG Wen (Research Center on Fictitious Economy & Data Science, CAS). This study is funded by the Natural Science Foundation of China (71420107025, 71031001, 71171009, 71371021, 71333014), the National High-Technology Project 863 (SS2014AA012303) and the National Science Technology Support Plan Project (2012BAC20B08).
