He, Kehan;
Coffman, D’Maris;
Hou, Xingzhe;
Li, Jinkai;
Mi, Zhifu;
(2024)
An electricity big data application to reveal the
chronological linkages between industries.
Economic Systems Research
10.1080/09535314.2024.2357167.
(In press).
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Abstract
Effective integration and compromise between theories and empirical data are essential for an operational economic model. However, existing economic models often neglect the intricate fluctuations and transitions that occur in weeks and days. This research proposes an Input–Output-based algorithm to introduce the time domain into economic modelling. Using daily electricity consumption big data in Chongqing as a proxy for economic activities, we quantitatively analyse the chronological interactions among industrial sectors and reveal that a longer duration is required by the heavy industry sector to signal an intermediate production in the service sector than any other sectors in this municipality. With the proposed model, we forecast the economic impact induced by demand changes for consumer goods under three growth scenarios. The model not only serves as a methodological bridge between theoretical and data-driven approaches but also offers new insights into the dynamic interplay of sectoral activities over time.
| Type: | Article |
|---|---|
| Title: | An electricity big data application to reveal the chronological linkages between industries |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1080/09535314.2024.2357167 |
| Publisher version: | http://dx.doi.org/10.1080/09535314.2024.2357167 |
| Language: | English |
| Additional information: | Copyright © 2024 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/ by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. |
| Keywords: | Sequential interindustry model; electricity big data; chronological economic modelling; economic cybernetics; input–output analysis |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10193450 |
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