| Abstract: | This paper applies the Kennedy and Thirlwall method of input-output formulation to study the differential import effect of final expenditures in the U.S. Import contents of consumption, investment, and government expenditures as calculated for 1958, 1963, 1967, 1972, 1977, 1981, and 1984. It also separates import effects of trade expansion, changes in the competitive position, shifts in the level of final demands and changes in the structure of final demands. It is found that the import fractions of the four final expenditures differ substantially, resulting in different income multipliers. 410] |
