Using counterfactuals from macroeconomic models to assess risks to accomplishment of structural innovations

A macroeconomic model often described as an input-output model, is specified mathematically to characterize production and consumption in an economy. Perturbations of attributes this macroeconomic model allow the examination of counterfactuals - hypothetical scenarios that run "counter to the f...

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Bibliographic Details
Published in:Journal of physics. Conference series 2019-12, Vol.1425 (1), p.12166
Main Authors: Passmore, D, Borkovskaya, V
Format: Article
Language:English
Subjects:
Innovations
Macroeconomics
Perturbation
Physics
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Summary:A macroeconomic model often described as an input-output model, is specified mathematically to characterize production and consumption in an economy. Perturbations of attributes this macroeconomic model allow the examination of counterfactuals - hypothetical scenarios that run "counter to the facts" of an existing reality - to assess risks to accomplishments of structural innovations in light of plausible endogenous or exogenous shocks to the economy.
ISSN:1742-6588
1742-6596
DOI:10.1088/1742-6596/1425/1/012166