A Non-Possibility Theorem For Joint-Stability In Interindustry Models

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Título:	A Non-Possibility Theorem For Joint-Stability In Interindustry Models
Autor:	Guerra, Ana Isabel; Sancho, Ferrán
Palabras clave:	Interindustry modeling Joint-stability Demand-driven Supply-driven
Fecha de publicación:	7-sep-2011
Citación:	UFAE and IAE Working Papers 881.11
Resumen:	Joint-stability in interindustry models relates to the mutual simultaneous consistency of the demand-driven and supply-driven models of Leontief and Ghosh, respectively. Previous work has claimed joint-stability to be an acceptable assumption from the empirical viewpoint, provided only small changes in exogenous variables are considered. We show in this note, however, that the issue has deeper theoretical roots and offer an analytical demonstration that shows the impossibility of consistency between demand-driven and supply- driven models.
Descripción:	JEL: C62, C67, O21
Versión del editor:	http://ideas.repec.org/p/aub/autbar/881.11.html
URI:	http://hdl.handle.net/10261/39890
Aparece en las colecciones:	(IAE) Informes y documentos de trabajo