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Inforum Models: Origin, Evolution, and By-ways Avoided

dc.contributor.authorAlmon, Clopper
dc.identifier.citationStudies on Russian Economic Development 27(2) 119-126en_US
dc.description.abstractInforum models combine input-output tables with econometric analysis in dynamic models in which the investment in each industry depends upon the growth of output in that industry. They have been built and used in a number of countries including the USA, Russia, Germany, Poland, Latvia, Austria, Italy, Spain, the United Kingdom, South Africa, Mexico, Colombia, China, Japan, Taiwan, Thailand, and Vietnam and perhaps others. They make extensive use of econometrics and input-output analysis to describe the functioning of an economy not only at a macroeconomic level but also at the level of individual products and industries. This paper records – somewhat autobiographically on the part of the author -- the beginnings of these models, outlines their evolution, defends them and other econometric models against the sweeping Lucas critique, and mentions some of the fads in economics and modeling which have been avoided for good reason.en_US
dc.publisherInstitute of Economic Forecasting, Russian Academy of Sciencesen_US
dc.subjectInforum models, Input-Output Economics, Lucas critique, DSGE models, CGE models, Leontief dynamic modelen_US
dc.titleInforum Models: Origin, Evolution, and By-ways Avoideden_US
dc.relation.isAvailableAtDigital Repository at the University of Marylanden_us
dc.relation.isAvailableAtCollege of Behavioral and Social Sciencesen_us
dc.relation.isAvailableAtUniversity of Maryland (College Park, MD)en_us

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