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The Adjustment Property


  • Christian Bidard
  • Guido Erreygers


An input-output (IO) system which is capable of producing any semi-positive net product by an adequate choice of the activity levels of its processes satisfies the 'adjustment' property. We analyze under which conditions the adjustment property holds for IO systems in which some produced goods have a purely intermediate character. The peculiarity of these pure capital goods is that final demand for them is identically zero. One of the ways to deal with this type of system is to eliminate the pure capital goods, by means of vertical integration.

Suggested Citation

  • Christian Bidard & Guido Erreygers, 1998. "The Adjustment Property," Economic Systems Research, Taylor & Francis Journals, vol. 10(1), pages 3-18.
  • Handle: RePEc:taf:ecsysr:v:10:y:1998:i:1:p:3-18
    DOI: 10.1080/09535319800000002

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    Cited by:

    1. Martin Diedrich, 2002. "Emission Targets and Equilibrium Choice of Technique," Keele Economics Research Papers KERP 2002/12, Centre for Economic Research, Keele University.


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