Measuring Commodities' Commodity Content

Within the standard linear framework, a methodology, formally similar to the labour theory of value, is proposed to compute the direct and indirect commodity contents of any produced good. The proposal is then compared with the more familiar social accounting matrix (SAM) accounting procedure, using an appropriate partitioning of the SAM accounts. Some numerical results are then obtained and compared using a recently compiled SAM for Catalonia. The empirical results show the practical feasibility of the proposed methodology.