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Joint-stability in inter-industry models relates to the mutual simultaneous consistency of the demand-driven and supply-driven models of Leontief and Ghosh, respectively. Previous work has claimed joint-stability to be an acceptable assumption from the empirical viewpoint, provided only small...
Persistent link: https://www.econbiz.de/10010547088
Following on from de Mesnard’s (2009) radical criticism of the Ghosh supply-driven model, this paper draws the dramatic consequences for the widespread use of forward linkages in input-output analysis applied to regional science: the practice must be abandoned. The arguments are based on three...
Persistent link: https://www.econbiz.de/10010693659
We present a method of calculating the maximal eigenvalue of an indecomposable nonnegative matrix, which is based on ideas of geometric programming. In addition to that, we obtain estimates for elements of an indecomposable nonnegative matrix by its spectral radius. The results make it possible...
Persistent link: https://www.econbiz.de/10005370734
Bródy’s conjecture is submitted to an empirical test using input-output flow data of varying size for the US economy for the benchmark years 1997 and 2002, as well as for the period 1998-2010. The results suggest that the ratio of the modulus of the subdominant eigenvalue to the dominant one...
Persistent link: https://www.econbiz.de/10011110770
This paper incorporates the Bhaduri-Marglin accumulation function in Goodwin’s growth cycle model. It seems that, a priori, nothing unambiguous can be said about the dynamic behaviour of that extended system, since it depends crucially on two separate factors: (i) the form of the accumulation...
Persistent link: https://www.econbiz.de/10011257992
In contrast to the neo-classical theory of Arrow and Debreu, a model of a private ownership economy is presented, in which production and consumption bundles are treated separately. Each of the two types of bundles is assumed to establish a con- vex cone. Production technologies can convert...
Persistent link: https://www.econbiz.de/10011090494
Brody’s conjecture is submitted to an empirical test using input-output flow data of varying size for the US economy for the benchmark years 1997 and 2002, as well as for the period 1998-2010. The results suggest that the ratio of the modulus of the subdominant eigenvalue to the dominant one...
Persistent link: https://www.econbiz.de/10010729122
Cikkünk arról a paradox jelenségről szól, hogy a fogyasztást explicit módon megjelenítő Neumann-modell egyensúlyi megoldásaiban a munkabért meghatározó létszükségleti termékek ára esetenként nulla lehet, és emiatt a reálbér egyensúlyi értéke is nulla lesz. Ez a...
Persistent link: https://www.econbiz.de/10010963068
In contrast to the neo-classical theory of Arrow and Debreu, a model of a private ownership economy is presented, in which production and consumption bundles are treated separately. Each of the two types of bundles is assumed to establish a convex cone. Production technologies can convert...
Persistent link: https://www.econbiz.de/10005775413
In this paper we give a sufficient and almost necessary condition for the existence of optimal strategies in linear multisector models when time is continuous, consumption is limited to one commodity, the instantaneous utility is of the CES type, and available technology allows a positive growth...
Persistent link: https://www.econbiz.de/10005636474