An input-output model of the Tasmanian economy

Input-output economics is an internationally accepted method of economic planning and decision making but the construction of input-output models within Australia has not been extensive even though a national transactions table was constructed early in the era of input-output. Over the last decade the situation has been changing with national tables, now constructed on a regular basis and regional studies proliferating. The major obstacle to the preparation of sub-national input-output tables is the paucity of commodity and trade data so that for most regional studies the emphasis has been on surveys. For two States, Western Australia and Tasmania, both commodity and trade data are tabulated by the Australian Bureau of Statistics thus providing the basis for the construction of input-output models principally from secondary data. An interindustry study for W.A. appeared in 1967. The aim of this study is to produce a Tasmanian transactions table together with the associated tables of coefficients and to quantify the structural economic inter-relationships by determining the output, income and employment multipliers of Tasmanian industries. In Chapter 2 the input-output system and the assumptions are presented together with the mathematical relationships. The closed model and the dynamic input-output system incorporating capital coefficients, both extensions to the basic open static model, are also described. The forms of input-output analysis are outlined in Chapter 3 including structural and multiplier analysis and simulation