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Abstract
Increasing the Timeliness of U.S. Annual I-O Accounts, by Mark
A. Planting and Jiemin Guo
Presented at the 14th International Conference on Input-Output Techniques,
October 10-15, 2002, Montreal, Canada, and the International Regional
Science Annual Meeting, November, 2001, Charleston, SC
The timeliness of the U.S. input-output (I-O) accounts is a major concern
for policymakers and industry analysts, as well as academics. In response,
the Bureau of Economic Analysis initiated research in 2001 to identify,
develop and implement an estimating method for producing more timely and
reliable annual I-O accounts than are currently available. The research
included reviewing the frameworks and methods currently used by other
statistical agencies and academic researchers, obtaining more timely industry
source data, and developing enhanced methods and processes for the automated
updating and balancing of annual I-O tables. The results of this research
indicate that our new automated updating and balancing method can reduce
time lag for producing the annual I-O accounts from three years to one
year without reducing quality. Our method is based on an adjusted RAS
process that simultaneously balances the I-O table in producers’
and purchasers’ prices; uses more exogenous data; and processes
tables at the most detailed level.
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Last changed:
April 2, 2003
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