REVISITING THE ORIGINAL GHOSH MODEL: CAN IT BE MADE MORE PLAUSIBLE?<break/>
We reconsider in this paper the alleged implausibility of Ghosh's model and we do so reformulating the model to incorporate an alternative closure rule. Our proposed closure rule is in line with the original allocation rules defined by A. Ghosh. The closure solves, to some extent, the implausibility problem that was pointed out by Oosterhaven, for then value-added is correctly computed and responsive to allocation changes resulting from supply shocks. Some numerical examples illustrate the sectoral and aggregate consistency of the allocation equilibrium.
Year of publication: |
2011
|
---|---|
Authors: | Guerra, Ana-Isabel ; Sancho, Ferran |
Published in: |
Economic Systems Research. - Taylor & Francis Journals, ISSN 0953-5314. - Vol. 23.2011, 3, p. 319-328
|
Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
An intertemporal linear price model with extractions
Guerra, Ana-Isabel, (2013)
-
An operational, nonlinear input-output system
Guerra, Ana-Isabel, (2014)
-
Applied General Equilibrium : An Introduction
Cardenete, Manuel Alejandro, (2017)
- More ...