Applying an Hybrid Input-Output Model and Network Analysis to Regional Economies

6 Pages Posted: 4 Aug 2018

See all articles by Tayo Fabusuyi

Tayo Fabusuyi

University of Michigan at Ann Arbor - Transportation Research Institute; Numeritics

Jürgen Pfeffer

Technische Universität München (TUM)

Date Written: July 15, 2018

Abstract

We address a practical problem often faced by economic development organizations using data from the Greater Pittsburgh area. Local economic development organizations are often tasked with promoting the health and vitality of the regional economy. However, the unique composition of each geographical area calls for a distinct approach that reflects the peculiarities of the local economy. The study presents an approach by which the information obtained from input-output analysis and conventional metrics of economic development are enriched by the concepts and metrics of social network analysis. We illustrate this approach by analyzing the local economy of the Greater Pittsburgh area of Western Pennsylvania, USA.

Keywords: Input-Output Model, Network Analysis, Output Multipliers, Authority Weight, NAICS Code, Location Quotient, Entropy Measures

JEL Classification: P25, P41, R11, R15, R58

Suggested Citation

Fabusuyi, Tayo and Pfeffer, Jürgen, Applying an Hybrid Input-Output Model and Network Analysis to Regional Economies (July 15, 2018). Available at SSRN: https://ssrn.com/abstract=3214286 or http://dx.doi.org/10.2139/ssrn.3214286

Tayo Fabusuyi (Contact Author)

University of Michigan at Ann Arbor - Transportation Research Institute ( email )

2901 Baxter Road
Ann Arbor, MI 48109
United States

Numeritics ( email )

5907 Penn Avenue
Suite 313
Pittsburgh, PA 15206

Jürgen Pfeffer

Technische Universität München (TUM) ( email )

Arcisstrasse 21
Munich, 80333
Germany

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