Input output table updating based on Agent-Responses Equilibrium model

In this paper, an Agent-Responses Equilibrium (ARE) model is presented for updating the benchmark China national supply and use input-output table, which is often published by National Statistics Bureau annually with a lag of approximately 2-3 years. In the ARE model, the main data sources used as the starting point are the most recent benchmark input-output table and the issued information of macroeconomic operation and electricity use. Then agents are designed to simulate the entities in the economic market and adjust its reproduction on the basis of the difference between the supply and demand until the electricity use meets with the target year´s value. The new input output table will delay only 1-2 years by this method, which can provide a good foundation for economic analysis and policy making.