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B. Böhm, J. Richter:
"Elements of a New Austrian Multisectoral Model";
Talk: The 2nd International workshop on Micro and Macro Models in Economics, Bratislava 2006, Bratislava, Slovakia; 2006-09-27 - 2006-09-29; in: "Micro and Macro Models in Economics", (2006), ISBN: 80-8078-135-4; 8 - 24.

This paper informs about the progress of building a new Austrian macroeconomic multisectoral model that is based on the general philosophy of INFORUM modelling. It relies on the common software of the INFORUM group and it is the intention to build a model that possesses the crucial properties to be included in the INFORUM system of macroeconomic models. INFORUM (standing for the Interindustry Forecasting at the University of Maryland) was founded by Professor Clopper Almon in 1967. It is a research organization dedicated to improving business forecasting and government policy analysis.
In accordance with the general INFORUM philosophy the Austrian model is based on the input-output identities: "That use assures absolute accounting consistency, on the product side, among final demands, intermediate use, and production of products and, on the price side, among prices of products, the costs of materials used and the value-added generated in making them" (ALMON 1991).
The approach is bottom up: Macroeconomic totals are built from commodity and industry detail. It does not rely on an aggregate macro-model driver. A high level of disaggregation is seen as crucial in order to analyze structural developments. Shocks and political measures affecting only one group of commodities or one economic branch can be examined in a consistent manner in their effects on other goods or industries as well as on the whole economy. The possible degree of details is limited by the availability of input-output data and adequate and consistent time series.