27th International Input-Output Association Conference
Leontief Memorial Prize
Background to the Father of Input-Output Analyses
Wassily W. Leontief (born 5th August 1905, died 5th February 1999)
Leontief was at Harvard University from 1933 to 1975 and first developed Input-Output (I-O) theory in the 1930s with the aim of constructing a numerical model for a real, live economy.
The first published results were provided in a paper by Leontief in 1936, “Quantitative input and output relations in the economic system of the United States”. This paper dealt with the empirical problems of compiling an I-O Table and also included the first ever I-O Table using data for the year 1919. The I-O Table showed consumption and exports but no investment as it was not possible to separate capital expenditure from current expenditure in the inter-industry transactions. An accompanying article in 1937, the “Interrelation of prices, output, savings and investment: A study in empirical application of the economic theory of general interdependence” supported the theoretical framework underlying the approach and presented the first empirical application of I-O analyses.
For the next thirty or so years, Leontief’s major efforts were devoted to improving, extending and applying I-O analyses.
Initially, in the 1940s, the work concentrated on projecting post-war employment by major industries in the US economy. The cost of the early I-O research was borne mainly by the US Defence Budget until the mid-1950s. In the mid-1960s, Leontief and his staff investigated the impact of defence cutbacks during the Vietnam War on the US economy. This was achieved by separating military and household expenditures from the other final demands and maintaining the level of total employment, and then allocating a 20% reduction in war expenditures to that model.
In 1973, Leontief received the Nobel Prize for the creation of Input-Output Economics. With his pioneering efforts, Leontief is also known as the Father of Input-Output Analyses.
In the past 30 years, many National Statistical Institutions have gone further with the incorporation of Supply and Use Tables at the heart of the National Accounts, and in many cases, including the compilation of I-O Tables.
The Leontief Memorial Prize details
In the honour of Leontief, the IIOA has a prestigious prize.
The IIOA is pleased to announce a Leontief Memorial Prize 2019 for the best conference paper of young authors (under 40 years of age at the time of the submission based on unpublished work combining theory and application). All co-authors must meet the above “young author” criteria.
In addition to the COPASS submission, authors who want to compete for the 2019 Leontief Memorial Prize should submit both their abstract and full paper to the SPC Chair by the specified deadline. The Leontief Memorial Prize Committee of the IIOA will verify applicant qualifications and select the winning paper.
The prize for winning the Leontief Memorial Prize is as follows:
For all budding young authors, please consider applying for this prize.
If you need any further details or clarifications, please contact either: