Closed Input-Output Model
From Open Risk Manual
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Contents
Definition
A Closed Input-Output Model is any Input-Output Model that includes all modeled economic transactions and transfers between all economic agents.
In terms of network or graph language, a closed input-output model does not involve any source or sink nodes.
Usage
As a simplified model that disregards the external Value Added contribution and Final Demand and focuses on inter-industrial relationships.
See Also
