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  • Μικρογραφία εικόνας
    Τεκμήριο
    Essays in industrial and economic impact analysis
    (2021-06-25) Moustakas, Alexandros; Μουστάκας, Αλέξανδρος; Athens University of Economics and Business, Department of Economics; Vettas, Nikolaos
    In this study we discuss the effects of discounts in retailing on inflation measurement, we propose a new method to update Input-Output tables and we introduce a new method to construct Multi-Regional Input-Output tables.In particular, we discuss the mismatch between the price trends implied by the Greek Consumer Price Index in the period 2008-2013, at the outbreak of the economic crisis in Greece, and the actual changes in the cost of living as perceived by consumers, focusing on the impact of discounts and promotional offers in retailing. We present a quantitative example illustrating that the price trends for a group of products in this period accounting for discounts differ significantly from the trends of nominal prices, as tracked by the Consumer Price Index.Furthermore, we present a new method to update Input-Output tables, based on quadratic programming, which allows to exogenously set both output and value added per sector, thus resolving a common problem with existing methods. Carrying out several simulations, we demonstrate that the proposed method has a much lower failure rate and often produces more accurate projections than established alternatives.Moreover, we present a new method to construct Multi-Regional Input-Output tables. We argue that the proposed method, which is based on linear programming, produces more realistic estimations of the regional and sectoral structure of an economy than existing methods and yields higher inter-regional trade flows, thus addressing a common weakness with established methods. In addition, the proposed method maintains the integrity of the technological structure of the economy, as dictated by the underlying national Input-Output table.