ABSTRACT
The demand-side input-output model, introduced by Leontief (1936), can be used to forecast sectoral outputs on the basis of the known table of intersectoral transactions for a benchmark year, and the final demand forecast for a desired year. Similarly, the supply-side input-output model, suggested by Ghosh (1958) and Augustinovics (1970), can be used to forecast sectoral inputs with the same benchmark table of intersectoral transactions, and the value added forecast for a desired year. The two underlying principles of economic behaviour—that demand determines output and that supply determines input—have generated two families of input-output models. 1
