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The main objective of this paper is to revisit the Euro method in a critical and constructive way.Wehave analysed some arguments against the Euro method published recently in the literature as well as some other relevant aspects of the SUT-Euro and SUT-RAS methods not covered before. Although not being the Euro method perfect, we believe that there is still space for the use of the Euro method in updating/regionalizing Supply and Use tables.
The main objective of this paper is to revisit Temursho’s (2020) article “On the Euro method” in a critical and constructive way. We have praised part of his work and at the same time, we have analysed some of his arguments against the Euro method and against the work published by Valderas-Jaramillo et al. (2019). Moreover, we have analysed some other relevant aspects of the SUT-Euro and SUT-RAS methods not covered in Temursho (2020). Temursho (2020) seems to conclude that no one should use the Euro method again because of its limitations and drawbacks. However, although not being the Euro method perfect, we are afraid that there is still space for the use of the Euro method in updating/regionalizing supply and use tables.
For a long time, the use of intermediate products in production has been growing more rapidly in most countries than domestic production. This is a strong indication of more interdependency in production. The main purpose of input-output analysis is to study the interdependency of industries in an economy. Often the term interindustry analysis is also used. Therefore, the exchange of intermediate products is a key issue of input-output analysis. We will use input–output data for this study that the author prepared for the new ‘Handbook on Supply, Use and Input–Output Tables with Extensions and Applications’ of the United Nations. The supply use and input–output tables contain separate valuation matrices for trade margins, transport margins, value added tax, other taxes on products and subsidies on products. For the study, two input–output models were developed to evaluate the impact of fuel subsidy and taxation reform on output, gross domestic product, inflation and trade. Six scenarios are discussed covering different aspects of the reform.