True prices, latent prices and the Ghosh model : some inconsistencies
Résumé
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.
Origine | Fichiers produits par l'(les) auteur(s) |
---|
Loading...