The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Sep, 1976, Volume 44, Issue 5
https://doi.org/0012-9682(197609)44:5<947:IAWSC>2.0.CO;2-V
p. 947-961
Sajal Lahiri
This is an analytical paper generalizing the standard input-output (IO) model on the one hand and the equally standard method of solving the model by means of power series expansion, on the other. The IO coefficients here are allowed to vary with the endogenous variables in a general fashion, and the model analysis is approached via the iterative scheme, referred to above. The analysis includes (i) detailed and rigorous examination of the properties of the scheme, (ii) clarification of the notion of viability, and (iii) derivation of suitable viability conditions in the present generalized context and their comparison with the corresponding results in the linear model. Finally, the economic interpretation of the computational procedure in terms of a planning process of the "material balance" type is extended to the generalized context. It is shown that this results in a considerable "informational economy" on the part of the central planning authority, which is lacking in the case of the linear model.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
