| Abstract: | Abstract In an earlier paper in this journal, Mangan and Guest (1983) used standard input-output analysis to predict job losses in Wollongong following the restructuring of the steel industry. Events have shown that these estimates were biased upwards. In this paper, given the benefit of hindsight, we re-examine our previous study and highlight one particular deficiency in input-output analysis which may have helped produce the inflated estimates. Our conclusions have significance for input-output modelling in general. |
