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

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  • MESNARD, Louis de

    (LATEC - CNRS UMR 5118 - Université de Bourgogne)

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..

Suggested Citation

  • MESNARD, Louis de, 2001. "True prices, latent prices and the Ghosh model : some inconsistencies," LATEC - Document de travail - Economie (1991-2003) 2001-09, LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne.
    • Handle: RePEc:lat:lateco:2001-09
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    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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