Closed Input-Output Model

Definition

A Closed Input-Output Model is any Input-Output Model that includes all modeled economic transactions and transfers between all economic agents.

Usage

As a simplified model that disregards the external Value Added contribution and Final Demand and focuses on inter-industrial relationships.

Graph Interpretation

In terms of network or graph language, a closed input-output model does not involve any source or sink nodes.

See Also

• Social Accounting Matrix
• Semi-Closed Input-Output Model

Further Resources

• Crash Course on Input-Output Model Mathematics
• Input-Output Models as Graph Networks