Chapter

Comparative Static Analysis of the Simplest Input‐Output System

Michio Morishima

in Equilibrium, Stability and Growth

Published in print March 1963 | ISBN: 9780198281450
Published online November 2003 | e-ISBN: 9780191596650 | DOI: http://dx.doi.org/10.1093/0198281455.003.0001
 Comparative Static Analysis of the Simplest Input‐Output System

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This chapter discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system as represented by various Leontief‐type models. By algebraic operations alone (no infinite processes being used), it is seen that the Hicksian laws of comparative statics and the Le Chatelier–Samuelson principle hold in both systems.

Keywords: exchange equilibrium; Hicksian laws of comparative statics; input–output; Le Chatelier–Samuelson principle; Leontief models; Leontief's input–output system; substitutability

Chapter.  10033 words.  Illustrated.

Subjects: Economic Development and Growth

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