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A follow-up note on the plausibility of the Leontief and Ghosh closed models

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  • Antonio Manresa
  • Ferran Sancho

Abstract

Herein we consider Leontief and Ghosh models that partly endogenize both part of final demand and part of value-added. We use Osterhaven's [(2012) Adding Supply-driven Consumption Makes the Ghosh Model Even More Implausible. Economic Systems Research, 24, 101–111] numerical three-sector example to show that anomalies of the sort he finds for a Ghosh closed model can also be found in the closed version of a Leontief model. By assuming, as Oosterhaven did, that aggregate exogenous resources are fixed, we obtain mirror results to his in a Ghosh setting, albeit in the more-traditional Leontief instance. Such numerical anomalies for the three-sector case turn out to be generic to both partially closed models for any 2×2 input–output model. A proof for the general n×n case remains to be uncovered.

Suggested Citation

  • Antonio Manresa & Ferran Sancho, 2020. "A follow-up note on the plausibility of the Leontief and Ghosh closed models," Economic Systems Research, Taylor & Francis Journals, vol. 32(1), pages 166-172, January.
    • Handle: RePEc:taf:ecsysr:v:32:y:2020:i:1:p:166-172
    DOI: 10.1080/09535314.2019.1650331
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    Cited by:

    1. Ruijin Du & Qi Wu & Ziwei Nan & Gaogao Dong & Lixin Tian & Feifan Wu, 2022. "Natural Gas Scarcity Risk in the Belt and Road Economies Based on Complex Network and Multi-Regional Input-Output Analysis," Mathematics, MDPI, vol. 10(5), pages 1-16, March.

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