Applying an Hybrid Input-Output Model and Network Analysis to Regional Economies
6 Pages Posted: 4 Aug 2018
Date Written: July 15, 2018
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: Suggested Citation