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Equilibrium, Stability and GrowthA Multi-Sectoral Analysis$
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Michio Morishima

Print publication date: 1963

Print ISBN-13: 9780198281450

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198281455.001.0001

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Comparative Static Analysis of the Simplest Input‐Output System

Comparative Static Analysis of the Simplest Input‐Output System

(p.1) I Comparative Static Analysis of the Simplest Input‐Output System
Equilibrium, Stability and Growth

Michio Morishima

Oxford University Press

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

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