A Comparison Of Input-Output Models:Ghosh Reduces To Leontief (But 'Closing' Ghosh Makes It More Plausible)
Ghosh's model is discussed in this paper under two alternative scenarios. In an open version we compare it with Leontief's model and prove that they reduce to each other under some specific productive conditions. We then move onto reconsidering Ghosh's model alleged implausibility and we do so reformulating the model to incorporate a closure rule. The closure solves, to some extent, the implausibility problem very clearly put out by Oosterhaven for then value-added is correctly computed and responsive to allocation changes resulting from supply shocks.
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- Louis de Mesnard, 2009. "On the fallacy of forward linkages: A note in the light of recent results," LEG - Document de travail - Economie 2009-05, LEG, Laboratoire d'Economie et de Gestion, CNRS, Université de Bourgogne.
- Louis de Mesnard, 2009.
"Is The Ghosh Model Interesting?,"
Journal of Regional Science,
Wiley Blackwell, vol. 49(2), pages 361-372.
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