On the consistency of the commodity-based technology in make-use model of production

Louis de Mesnard

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Abstract: In the Stone make-use model, the industry-based technology is consistent because his solution can be explained in variational terms inside a circuit. However, the alternative model, the commodity-based technology, is not economically realistic: it never corresponds to a circuit, even if an exact solution can be found when the number of commodities is equal to the number of industries. This model hesitates between a supply-driven and a demand-driven model but when it is converted into a true supply-driven one, it retrieves a consistency.

Keywords: Supply; Matrice; Management economics; Demand; Economics; Economic theory; Input-output; Gestion; Economie; Management (search for similar items in EconPapers)
Date: 2001
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Published in [Research Report] Laboratoire d'analyse et de techniques économiques(LATEC). 2001, 8 p

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