Revisiting the original Ghosh model: Can it be made more plausible?

摘要: We reconsider in this paper the alleged implausibility of Ghosh's model and we do so reformulating to incorporate an alternative closure rule. Our proposed rule is line with original allocation rules defined by A. Ghosh. The solves, some extent, problem that was pointed out Oosterhaven, for then value-added correctly computed responsive changes resulting from supply shocks. Some numerical examples illustrate sectoral aggregate consistency equilibrium.