The age structure of capital plays an important role in the measurement of productivity. It has been argued that the slowdown in the 1970?s can be ascribed to the aging of the stock of capital. In this paper we incorporate the age structure in productivity measurement. Our final proposition...

Technical coefficients are usually constructed from commodity or industry technology models. Although these models are considered as competing, there is an encompassing framework that admits a clear comparison.

The main models to construct technical coefficients are the industry technology model and the commodity technology model. The former yields nonnegative coefficients and the latter fulfills nice theoretical properties, such as price invariance. Although the models are very different, this paper...

This paper fruitfully combines two complementary theories: performance measurement and input-output analysis. Our point of departure is the theory of the consumer, who maximizes utility subject to a budget constraint. His well-being can be measured by the change in the consumption bundle, valued...

Many economic models (e.g., computable general equilibrium models, econometric input–output models) revolve around a matrix of technical coefficients. However, these matrices can be estimated only once every 5 years as long as they are calculated from input–output tables and these are only...

In this paper we briefly review the work of Wassily Leontief, in respect for his memory and appreciation of his accomplishment. His work encompasses and redirects the entire field of economics, including pure theory.

Conventional wisdom tells us that with no market failure and local non- satiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We confirm this for a standard model featuring land. Next we consider the public land ownership version of the...

Conventional wisdom tells us that with no market failure and local nonsatiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We confirm this for a standard model featuring private ownership of land. Next we consider the public land...

We evaluate the relative performance of formal and informal sectors in India by looking into their productivity difference. Recognizing the intersectoral linkages in the economy, the competitive general equilibrium prices are computed; these signal the productivities. Our model synthesizes...