Updating an input-output table for use in policy analysis
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The long lag in the publication of input–output tables is one of the central constraints in applied general equilibrium analysis. Model builders often use out‐dated databases leading to analyses that are inappropriate for the policy questions being addressed. This occurs particularly when there exists a significant structural change in the economy. We discuss the updating of an input–output table of the Philippines by simulation technique. A detailed computable general equilibrium model of the Philippine economy with comparative static and forecasting capabilities is utilised. The data are drawn from known percentage changes of macroeconomic variables such as those in the national accounts and structural variables such as employment and output by industry.