The different economic sectors of a country depend on each other. An input-ouptut model can be used to show these dependencies, or to show the dependencies between different regional economies. Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model.
References[change | change source]
- Raa, Thijs ten (2010). Input-output Economics: Theory and Applications : Featuring Asian Economies. World Scientific. ISBN 978-981-283-367-9.