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Article
Publication date: 1 April 2003

Anghel N. Rugina

Focuses on Wassily Leontif’s early upbringing in St Petersburg (Leningrad), and his education at the university there. Continues with his various overseas postings that followed…

459

Abstract

Focuses on Wassily Leontif’s early upbringing in St Petersburg (Leningrad), and his education at the university there. Continues with his various overseas postings that followed with time. Mentions his famous connection with the formulation and application of the input‐output method.

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International Journal of Social Economics, vol. 30 no. 4
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 7 July 2023

Bishal Dey Sarkar and Laxmi Gupta

The conflict in Russian Ukraine is a problem for the world economy because it hinders growth and drives up inflation when it is already high. The trade route between India and…

426

Abstract

Purpose

The conflict in Russian Ukraine is a problem for the world economy because it hinders growth and drives up inflation when it is already high. The trade route between India and Russia is also impacted by the Russia-Ukraine crisis. This study aims to compile the most recent data on how the present global economic crisis is affecting it, with particular emphasis on the Indian economy.

Design/methodology/approach

This research develops a mathematical forecasting model to evaluate how the Russia-Ukraine crisis would affect the Indian economy when perturbations are applied to the major transport sectors. Input-output modeling (I-O model) and interval programing (IP) are the two precise methods used in the model. The inoperability I-O model developed by Wassily Leontief examines how disruption in one sector of the economy spreads to the other. To capture data uncertainties, IP has been added to IIM.

Findings

This study uses the forecasted inoperability value to analyze how the sectors are interconnected. Economic loss is used to determine the lowest and highest priority sectors due to the Russia-Ukraine crisis on the Indian economy. Furthermore, this study provides a decision-support conclusion for studying the sectors under various scenarios.

Research limitations/implications

In future studies, other sectors could be added to study the Russian-Ukrainian crises’ effects on the Indian economy. Perturbation is only applied to transport sectors and could be applied to other sectors for studying the effects of the crisis. The availability of incomplete data is a significant concern in this study.

Originality/value

Russia-Ukraine conflict is a significant blow to the global economy and affects the global transportation network. This study discusses the application of the IIM-IP model to the Russia-Ukraine conflict. It also forecasts the values to examine how the crisis affected the Indian economy. This study uses a variety of scenarios to create a decision-support conclusion table that aids decision-makers in analyzing the Indian economy’s lowest and most affected sectors as a result of the crisis.

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Journal of Global Operations and Strategic Sourcing, vol. 17 no. 3
Type: Research Article
ISSN: 2398-5364

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Article
Publication date: 27 July 2021

Bishal Dey Sarkar, Ravi Shankar and Arpan Kumar Kar

Presently, Indian sectors are manifesting a higher level of interdependency and making the economy more vulnerable to human-caused and natural disasters. COVID-19 pandemic creates…

617

Abstract

Purpose

Presently, Indian sectors are manifesting a higher level of interdependency and making the economy more vulnerable to human-caused and natural disasters. COVID-19 pandemic creates a devastating effect on the world economy. The Indian economy was expected to lose around ₹ 32,000 crores every day during the first 21 days of complete lockdown. This motivates to conduct the research on how the COVID-19 pandemic affects the port logistics sector and how the effects of COVID-19 on port logistics propagate to other sectors owing to its interconnectedness and affect the economy of the country.

Design/methodology/approach

The purpose of the study is analyze how perturbation in one sector can affect the system of interdependent sectors and it is done with interdependency analysis. It uses Wassily Leontief’s inoperability input-output model (IIM) and interval programming (IP) to develop a framework. IP is used to address situations where assumptions are not valid because of uncertainties associated with disruptive events.

Findings

The model helps in describing how the effect of the COVID-19 pandemic in port logistics can propagate owing to the interconnectedness across other sectors. The model uses the latest five-year data available on the Organisation for Economic Co-operation and Development database. It uses metrics like inoperability and economic loss to study the consequences of COVID-19 pandemic on various sectors. This study also presents the ranking of the affected sectors based on their inoperability and economic loss

Research limitations/implications

In the future study, other techniques like dynamic evolution, multiplex network analysis, analytical hierarchy process, pinch analysis, stochastic evolution and pinch graph could be integrated with input-output (I-O) modelling. Integrated stochastic evolution with an I-O model allows capturing the likelihood of the events; it includes probability distributions instead of point estimates for scenario parameters. Methods like dynamic evolution and multiplex network analysis can be introduced in future work to shed lights on interdependency among the sector, which could potentially provide additional insights for transport policy formulations.

Originality/value

This study discusses the theory, methodology and application of the IIM-IP model in the domain of port logistics. The developed IIM-IP model helps decision-makers to manage risk in port logistics. Firstly, it studies how different sectors are interconnected with each other. Secondly, it helps in identifying the most vulnerable sectors based on economic loss and inoperability. Thirdly, it provides the ranking of the sectors based on their economic losses.

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Book part
Publication date: 18 April 2015

Amanar Akhabbar

This chapter provides a presentation about Chapter 1 of The Balance of the National Economy, 192324, edited by Pavel Illich Popov. The Balance was issued in June 1926 by the…

Abstract

This chapter provides a presentation about Chapter 1 of The Balance of the National Economy, 192324, edited by Pavel Illich Popov. The Balance was issued in June 1926 by the Central Statistical Administration (CSU or TsSU) of the USSR, which Popov had headed from July 1918 to January 1926. In the first part of our chapter, we show how Popov’s work on the balance of the national economy was rooted in the specific scientific and political culture of zemstvo statisticians inherited from the Tsar. Statistical inquiry was considered an objective scientific process based on international standards. Furthermore, like zemstvo statisticians, CSU statisticians developed great autonomous political power. The balance of the national economy was built according to these principles, which met harsh criticism from revolutionaries and Bolsheviks. In the second part, we analyze the contents of Popov’s Chapter 1, especially the theoretical foundations of the balance and its connection with Soviet planning. In the third part, we discuss the balance’s significance in the years 1926–1929, years which ended the NEP and launched the first Five-Year Plan, so as to understand how CSU’s balance didn’t become a standard Soviet statistical instrument and was discarded as a “bourgeois” device.

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Book part
Publication date: 20 August 1996

Wassily Leontief

Abstract

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The Peace Dividend
Type: Book
ISBN: 978-0-44482-482-0

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Article
Publication date: 1 January 1977

Edward Meadows

Introduction One of the fresher breezes to rustle the leaves in the Black Forest of microeconomic theory has been fueled by the “new” consumer behavior theory, based on the…

1095

Abstract

Introduction One of the fresher breezes to rustle the leaves in the Black Forest of microeconomic theory has been fueled by the “new” consumer behavior theory, based on the household production function. The theory was developed in the early 1960s by Gary Becker, his colleagues and graduate students in the Labor Workshop at Columbia University. Becker's 1965 Economic Journal article, “A Theory of the Allocation of Time,” (1) is regarded as the seminal elucidation. But concurrently, other Workshop participants, such as Owen, Dean, Mincer, et al(2), did research on time allocation theoretics and applications, and credit for primal development of the new theory is also given to Lancaster for his 1966 paper, “A New Approach to Consumer Theory,” (3). However, one must go back to 1947 and Wassily Leontief's Econometrica article on the separability of functions (4) to find the clear Schumpeterian Vision necessary to evolution of the theory. Michael and Becker (5) have even claimed to find antecedents ranging back to 1789 and Jeremy Bentham's Principles of Legislation (6).

Details

Studies in Economics and Finance, vol. 1 no. 1
Type: Research Article
ISSN: 1086-7376

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Book part
Publication date: 20 August 1996

Abstract

Details

The Peace Dividend
Type: Book
ISBN: 978-0-44482-482-0

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Article
Publication date: 1 January 1981

Wassily Leontief

Should government chart the course of national economic policy? The favorable experiences of Japan and some European countries, as well as the recent dismal performance of the…

1603

Abstract

Should government chart the course of national economic policy? The favorable experiences of Japan and some European countries, as well as the recent dismal performance of the American economy, seem to suggest that the answer may be a resounding yes. Under modern conditions, sound corporate plans will be difficult to formulate without a firm national economic framework.

Details

Journal of Business Strategy, vol. 1 no. 4
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 22 July 2024

Anuradha S Pai, Ananya Sarkar, Atreyee Sengupta, Anuja Kure, Bhumika Goswami and Shilpa Deo

This study finds whether there exists any correlation between the rates of technological progress, unemployment and labour productivity among a total of 21 world economies that…

Abstract

This study finds whether there exists any correlation between the rates of technological progress, unemployment and labour productivity among a total of 21 world economies that are categorized as developed, developing and least developed by the United Nations. An attempt has also been made to check the reliability of the model through regression analysis. Time series analysis has been conducted over 19 years, from 2000 to 2018. The Solow Residual Method based on the Cobb Douglas Production function has been used and modified to find the rate of contribution of technological progress towards Gross Domestic Product (GDP) for each country. Correlation analysis has been conducted to measure the degree of correlation between the variables and trend analysis has been used to identify the exact directions in which the variables are moving. Further, regression analysis has been conducted to check whether the identified strength of the relationship between the dependent and the independent variables can be well justified or not. There is an unsustainable economic development when the contribution of technology to a nation's GDP increases in tandem with an increase in the rate of unemployment. A country is said to have sustainable economic development when the rate of contribution of technical advances to GDP growth drops or if it grows but with a lower unemployment rate.

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Book part
Publication date: 30 November 2016

Bruce Caldwell

The paper offers a number of vignettes surrounding Friedrich A. Hayek’s receipt of the Nobel Prize. It examines Hayek’s life before he got the prize, describes the events in…

Abstract

The paper offers a number of vignettes surrounding Friedrich A. Hayek’s receipt of the Nobel Prize. It examines Hayek’s life before he got the prize, describes the events in Stockholm, and offers a summary of the main themes of his Prize Lecture. It then examines the subsequent impact on Hayek’s life and career. It concludes by looking at the impact of the Prize on scholarship about Hayek and the Austrian movement.

Details

Revisiting Hayek’s Political Economy
Type: Book
ISBN: 978-1-78560-988-6

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