SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIOUE ETC.

JY

as British exports. In our complete matrix, class I contains
at present thirty-one commodities.
Class 2 relates to the productive activity of the thirty-one
industries which produce these commodities. It can be seen
from row 2 that the whole output of these industries, £44,272
million, flows into class 1. The cost of producing this output
is shown in column 2, thus: nearly half the total cost, £20,943
million, relates to the intermediate inputs, namely raw materials,
 semi-finished products and fuels, absorbed in production;
 £638 million represent indirect taxes (less subsidies),
which we charge direct to industries; £18,855 million represent
factor incomes, namely wages, profits etc., paid out by the
industries; £1,786 million represent depreciation, of which
£1,200 million correspond to the value of assets estimated to
have been scrapped during the year and the balance, £586
million, is available to finance extensions, that is additions to
the stock of assets; - £136 million is not a real entry, but corresponds
 to the residual error which appears in the official
accounts; finally, £2,186 million represent complementary imports,
 that is to say imports of products which are either not
produced in Britain, like crude oil and raw cotton, or produced
 there in relatively small quantities, like raw wool.
We have adopted this distinction between commodities and
industries because there is not a one-to-one correspondence between
 the two concepts. Most of our basic data make use of
the distinction and so it is convenient to follow it in setting out
these data, although for input-output analysis we get rid of
it and make use of a table which shows the commodities needed
to produce commodities, as is explained in detail in [9].
Class 3 relates to consumers’ goods and services, or private
consumption. These goods and services are classified in SAM
under forty headings, corresponding broadly to a shopping
list. In this form they lend themselves better to demand analysis,
 but they still have to be related to products in the industrial
classification: again, there is no one-to-one correspondence

1 | Stone - pag.

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