Premium
TRACING PRICE CHANGES THROUGH STAGES OF PRODUCTION: AUSTRALIA, 1968 TO 1977 1
Author(s) -
Haig B. D.,
Wood Margaret P.
Publication year - 1979
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1979.tb00074.x
Subject(s) - tracing , economics , production (economics) , lag , econometrics , object (grammar) , macroeconomics , microeconomics , computer science , computer network , artificial intelligence , operating system
This study is concerned with an effort to analyze changes in costs and prices in the Australian economy by tracing the effects of changes in wages and import prices through the stages of production, using a disaggregated input‐output model with lags. The object of constructing the model was to improve, by introducing lags, the accuracy of predictions of the effect of cost changes on prices, and to show the lag structures. Data problems encountered are discussed, and the need for integration of price statistics to enhance their usefulness for analyses such as this is emphasized. Concepts and sources of data are discussed in some detail in an appendix.