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A note on András Bródy's study entitled 'Leontief's closed dynamic model'

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Dobos I.

Kozgazdasagi Szemle (Economic Review)

2007

vol. 54

issue 11

1004-1011

András Bródy presents in his study three methods of finding an equilibrium solution to the closed dynamic input-output model. The one of the three that this study analyses is the classical solution recommended by Leontief. The route to a solution is through the determination of own values, which leads to the problem of a generalized eigen-value/ eigen-vector, due to the singularity of the capital matrix. Following Bródy's numerical example also shows that the equilibrium solution is only non-negative in the long term if the path of the economy follows the Neumann ray.

DYNAMIC OPTIMIZATION AND THE LEONTIEF MODEL (Dinamikus optimalizalas es a Leontief-modell)

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Dobos I.

Kozgazdasagi Szemle (Economic Review)

2009

vol. 56

issue 1

84-92

The study presents three economic applications of variation calculations. All three rely on the Leontief model. After examination of the optimal courses, an answer is sought to whether the solutions to the Euler-Lagrange differential equation system are really optimal solutions to the models. The study concludes that the optimal solutions can only be determined by introducing additional economic conditions. At the same time, the models presented can be fitted into a general framework with the help of the conditions outlined. The final conclusion of the study is that the optimal solution of all three models fits into the Neumann band.

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2 Kozgazdasagi Szemle (Economic Review)

2 Dobos I.

1 2009

1 2007

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A note on András Bródy's study entitled 'Leontief's closed dynamic model'

DYNAMIC OPTIMIZATION AND THE LEONTIEF MODEL (Dinamikus optimalizalas es a Leontief-modell)