Vertex Centralities in Input-Output Networks Reveal the Structure of Modern Economies

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Show simple item record BLÖCHL, Florian THEIS, Fabian J. VEGA-REDONDO, Fernando FISHER, Eric O’N. 2012-04-18T12:23:50Z 2012-04-18T12:23:50Z 2011
dc.identifier.citation Physical Review E (Statistical, Nonlinear, and Soft Matter Physics), 2011, 83, 4, 046127 en
dc.identifier.issn 1539-3755
dc.identifier.issn 1550-2376
dc.description Received 26 July 2010; revised 26 January 2011; published 28 April 2011 en
dc.description.abstract Input-output tables describe the flows of goods and services between the sectors of an economy. These tables can be interpreted as weighted directed networks. At the usual level of aggregation, they contain nodes with strong self-loops and are almost completely connected. We derive two measures of node centrality that are well suited for such networks. Both are based on random walks and have interpretations as the propagation of supply shocks through the economy. Random walk centrality reveals the vertices most immediately affected by a shock. Counting betweenness identifies the nodes where a shock lingers longest. The two measures differ in how they treat self-loops. We apply both to data from a wide set of countries and uncover salient characteristics of the structures of these national economies. We further validate our indices by clustering according to sectors’ centralities. This analysis reveals geographical proximity and similar developmental status. en
dc.language.iso en en
dc.publisher American Physical Society en
dc.relation.ispartof Physical Review E (Statistical, Nonlinear, and Soft Matter Physics) en
dc.relation.uri en
dc.title Vertex Centralities in Input-Output Networks Reveal the Structure of Modern Economies en
dc.type Article en
dc.identifier.doi 10.1103/PhysRevE.83.046127
dc.neeo.contributor BLÖCHL|Florian|aut|
dc.neeo.contributor THEIS|Fabian J.|aut|
dc.neeo.contributor VEGA-REDONDO|Fernando|aut|EUI70011
dc.neeo.contributor FISHER|Eric O’N.|aut|
dc.identifier.volume 83 en

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