True prices, latent prices and the Ghosh model: some inconsistencies
Louis de Mesnard ()
No 2001-09, LATEC - Document de travail - Economie (1991-2003) from LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne
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..
JEL-codes: C67 D46 D57 (search for similar items in EconPapers)
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Working Paper: True prices, latent prices and the Ghosh model: some inconsistencies (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:lat:lateco:2001-09
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