Input-output Economics

Input-output Economics by Wassily Leontief, published by Oxford University Press in 1986, is a comprehensive introduction to the input-output model, which earned Leontief the Nobel Prize in 1973. This thoroughly revised second edition spans 436 pages and is presented in English. The book outlines the structural approach to economics that Leontief developed, emphasizing its role in transforming economics into an empirical discipline that leverages modern data processing technology.

Readers will find a collection of twenty essays, twelve of which are new to this edition, reflecting both historical developments and the current state of the field. The introductory chapter guides readers through the input-output approach, presenting it not only as a formal theory but also as a research strategy and a practical tool for navigating the complexities of a modern economy. Topics such as econometrics, economic conditions, and macroeconomics are explored, providing insights into the application of input-output analysis in various economic contexts.