ON THE LEONTIEF DYNAMIC INVERSE.
In this article the author comments on the theory developed by the economist Wassily Leontief, on the dynamic inverse approach for solving dynamic multisectoral models. According to the author Leontief's method avoids the well-known difficulty of a singular capital matrix but ignores problems of con...
| Publicado en: | Quarterly Journal of Economics Vol. 86; no. 4; pp. 693 - 697 |
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| Formato: | Artículo |
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Oxford University Press / USA
Nov72
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=5518272&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 5518272 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00335533 QJE jtl: Quarterly Journal of Economics issn: 00335533 maglogo: N pubinfo: dt: Nov72 vid: 86 iid: 4 pid: 622 pub: Oxford University Press / USA artinfo: ui: 5518272 10.2307/1882054 ppf: 693 ppct: 4 formats: tig: atl: ON THE LEONTIEF DYNAMIC INVERSE. aug: au: Kendrick, David affil: University of Texas. su: Econometrics Macroeconomics DYNAMO (Computer program language) Savings Economic models Matrices (Mathematics) Iterative methods (Mathematics) Fractional calculus sug: subj: Econometrics Macroeconomics DYNAMO (Computer program language) Savings Economic models Matrices (Mathematics) Iterative methods (Mathematics) Fractional calculus ab: In this article the author comments on the theory developed by the economist Wassily Leontief, on the dynamic inverse approach for solving dynamic multisectoral models. According to the author Leontief's method avoids the well-known difficulty of a singular capital matrix but ignores problems of consistency with initial conditions. While consistency may be obtained through iterative selection of terminal conditions, this procedure would be computationally difficult for models with many sectors. Here the author suggests a method which obviates the necessity of iteration by integrating forward in time from the initial conditions and overcomes the singularity problem through the use of a partitioning procedure. This forward integration procedure has the intuitive advantage that it works from given initial conditions and that an interactive procedure is not required. The author remarks that while the computational gain would be of small importance in models with a few sectors, it would be of major importance in dynamic models. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1972 holdings: @attributes: islocal: N |
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