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Leontief Model
1
Transcript
Leontief Model
THANK YOU!
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in this case, x1 = 43.5 , x2 = 36
criticisms of the model
THE MATRIX EQUATIONS
technology matrix
x1= total output of coal
x2= total output of steel
external demand
$24 million for coal
$15 million for steel
x1= 0.2x1 + 0.3x2 + 24
x2 = 0.4x1 +0.1x2 + 15
WASSILY LEONTIEF
output matrix
HISTORY AND THE NEED FOR SUCH A MODEL IN THE ECONOMY
=
+
x1
x2
technology matrix
demand matrix
THE MATRIX EXPLANATION OF SUCH A MODEL
- RECOLLECTION OF FUNDAMENTAL MATRIX PROPERTIES
- the problem
- example using two sectors in the economy
steel
MAITREYI NATARAJAN
14060321037
x - mx = d
ix - mx = d
(i - m)x = d
-1
x = (i - m) D
consumers
c
s
c
0.2
0.3
m =
s
0.4
0.1
producers
add logo here
0.2 0.3
0.4 0.1
24
15
X = MX + D
x1
x2
o.3
coal
0.1
0.2
0.4
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