Abstract
ABSTRACT A longstanding inconsistency in the definition of basic and nonbasic economic activity is resolved. When indirect exports are included in the basic, rather than the nonbasic sector, and the model is closed with respect to households, economic base and aggregate input‐output mulitpliers constructed with the same data and definitions will be mathematically identical.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have