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Leontief, Wassily

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
Russian-born US economist whose entire life has been devoted to the development and refinement of a single technical tool, input–output analysis, which he conceived in his early youth and which he carried from Russia to the USA and from the USA to almost every country in the world. He was awarded the Nobel Prize for Economics in 1973. Input–output analysis, or as it is sometimes called, ‘interindustry analysis’, has been put to numerous uses: to calculate the resource costs of conversion to peace-time production in 1945; to calculate the flow of trade between regions in a country; to analyse the pollutants generated by different industries in a country; and to spell out relative factor-intensities of exports and imports. Because input–output analysis deals essentially with large sets of linear equations, it lends itself naturally to the use of matrix algebra, and the widespread use of matrix algebra in modern economics is another one of the major influences of Leontief's work. Leontief…
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Full text Article Leontief, Wassily

From Britannica Concise Encyclopedia
(born Aug. 5, 1906, St. Petersburg, Russia—died Feb. 5, 1999, New York, N.Y., U.S.) Russian-born U.S. economist. After studying at the universities of Leningrad (1921–25) and Berlin (1925–28), he immigrated to the U.S. in 1931. At Harvard University (1931–75) he articulated his input-output analysis…
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Full text Article LEONTIEF, WASSILY W.

From Encyclopedia of Nobel Laureates 1901-2017 Full text Article ECONOMICS
LEONTIEF, WASSILY W.
Nationality: American b. 5 August 1906, St. Petersburg, Russia; d. 5 February 1999, NY, USA For the development of the input-output method and for its application to important economic problems Leontief was educated at the Universities of Leningrad and Berlin and obtained his Ph.D. from the latter…
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Full text Article Subject classifications

From Routledge Dictionary of Economics
These classifications are as used in The Economic Journal (the journal of The Royal Economic Society) and the Journal of Economic Literature. A. General economics and teaching A1 General economics A2 Teaching of economics B. Methodology and history of economic thought B0 General B1 History of…
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A framework for the quantitative description and analysis of the interdependence of the different sectors of an economy. It was created by Wassily Leontief, who described the basic input-output model and database in publications starting in the 1930s and received the Nobel Prize in Economics for…
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the study and empirical measurement of the structural interrelationships between PRODUCTION sectors within an economy. The technique was devised by Wassily Leontief (1906-) to measure the factor input required by different industries to achieve a given OUTPUT . A particular sector of the economy…
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Full text Article Input-Output Analysis

From International Encyclopedia of Human Geography
Input combinations are fixed over all...
© 2009 Elsevier Ltd. All rights reserved. This article is reproduced from the previous edition, volume 5, pp 491–498, © 2009 Elsevier Ltd. Glossary Backward and forward linkages The purchases and sales relationships for a sector. Computable general equilibrium More extensive models, incorporating…
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Full text Article Solow, Robert Merton

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
US economist, known primarily for his ground-breaking work on growth theory in the 1950s and 1960s. Solow also contributed to macroeconomic analysis and the economics of non-renewable resources. He was awarded the Nobel Prize for Economics in 1987 for his contributions to the theory of economic…
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SAMUELSON, PAUL ANTHONY
Nationality: American b. 15 May 1915, Gary, IN, USA; d. 13 December 2009, Belmont, MA, USA For the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science Samuelson was educated at the…
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Full text Article input-output analysis

From Britannica Concise Encyclopedia
Economic analysis developed by Wassily Leontief , in which the interdependence of an economy’s various productive sectors is observed by viewing the product of each industry both as a commodity for consumption and as a factor in the production of itself and other goods. For example, input-output…
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