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Revisiting The Original Ghosh Model: Can It Be More Plausible?

Author

Listed:
  • Ana-Isabel Guerra

    () (Department of Economics, Universidad Pablo de Olavide)

  • Ferran Sancho

    () (Department of Economics, Universidad Autónoma de Barcelona)

Abstract

We reconsider in this paper the alleged implausibility of Ghosh’s model and we do so reformulating the model to incorporate an alternative closure rule. Our proposed closure rule is in line with the original allocation rules defined by A. Ghosh. The closure solves, to some extent, the implausibility problem that was pointed out by Oosterhaven for then value–added is correctly computed and responsive to allocation changes resulting from supply shocks. Some numerical examples illustrate the sectoral and aggregate consistency of the allocation equilibrium.

Suggested Citation

  • Ana-Isabel Guerra & Ferran Sancho, 2011. "Revisiting The Original Ghosh Model: Can It Be More Plausible?," Working Papers 11.02, Universidad Pablo de Olavide, Department of Economics.
  • Handle: RePEc:pab:wpaper:11.02
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    File URL: http://www.upo.es/serv/bib/wps/econ1102.pdf
    File Function: First version, 2011
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    References listed on IDEAS

    as
    1. 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.
    2. 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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    Cited by:

    1. Xesús Pereira López & Melchor Fernández Fernández & André Carrascal Incera, 2012. "Algunas consideraciones acerca de los modelos input-output rectangulares," Documentos de trabajo - Analise Economica 0049, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
    2. Manresa, Antonio & Sancho, Ferran, 2013. "Supply and demand biases in linear interindustry models," Economic Modelling, Elsevier, vol. 33(C), pages 94-100.

    More about this item

    Keywords

    Multi-sectoral Input-Output Models; Market Economy; Planned Economy;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • P2 - Economic Systems - - Socialist Systems and Transition Economies

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