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

Author

Listed:
  • Louis de Mesnard

    (LATEC - Laboratoire d'Analyse et de Techniques Economiques [UMR 5118] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique)

Abstract

The Ghosh model, a supply-driven input-output model, uses money terms rather than physical terms for all flows or outputs, "latent prices" (or price indexes) rather than true prices, and "demand prices" rather than "supply prices" (or "production prices"). This paper explores the consequences of these substitutions by comparison with the traditional Leontief demand-driven model. In conclusion, the Ghosh model (particularly because of its latent demand prices), is not as credible as the other version, while itself offers very limited results.

Suggested Citation

  • Louis de Mesnard, 2001. "True prices, latent prices and the Ghosh model : some inconsistencies," Working Papers hal-01542486, HAL.
    • Handle: RePEc:hal:wpaper:hal-01542486
    Note: View the original document on HAL open archive server: https://hal.science/hal-01542486
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    Keywords

    Economics; Economic theory; Management; Input-output; Management economics; Supply-driven; Gestion; Economie;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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