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

Author

Listed:
  • Louis de Mesnard

    (LATEC - Laboratoire d'Analyse et de Techniques Economiques [UMR 5118] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique)

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.

Suggested Citation

  • Louis de Mesnard, 2001. "On the consistency of the commodity-based technology in make-use model of production," Working Papers hal-01526976, HAL.
    • Handle: RePEc:hal:wpaper:hal-01526976
    Note: View the original document on HAL open archive server: https://hal.science/hal-01526976
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