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True prices, latent prices and the Ghosh model : some inconsistencies

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Author Info
MESNARD, Louis de () (LATEC - CNRS UMR 5118 - Université de Bourgogne)

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Abstract

Beside the traditional Leontief demand-driven model, there is the Ghosh supply-driven model. This paper explores the typology of the possible models: demand driven models versus supply driven models, true prices versus latent (or index) prices, coefficients in physical terms versus coefficients in value. This demonstrates that the supply-driven model offers results of limited interest, being incapable to separate quantities and prices; and it is only when a very strange hypothesis is chosen -- demand prices, controlled by the buyer -- that the supply-driven model gives an interesting result with a separation between quantities and prices in the solution, becoming the dual of the Leontief model..

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Publisher Info
Paper provided by LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne in its series LATEC - Document de travail - Economie (1991-2003) with number 2001-09.

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Length: 20 pages
Date of creation: Jun 2001
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Handle: RePEc:lat:lateco:2001-09

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Find related papers by JEL classification:
C67 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Input-Output Models
D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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