An elementary proof of the existence of the Leontief inverse

Conxita Pinyol, Ferran Sancho

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Abstract

We provide a new and simpler proof for the existence and non-negativity of the Leontief inverse that does not rely on advanced mathematics. Instead, we start from an economic condition related to the equilibrium in quantities between demand and supply and proceed using only elementary linear algebra to establish the nature of the inverse.
Original languageEnglish
Pages (from-to)662-666
JournalEconomics Bulletin
Volume42
Publication statusPublished - 30 Mar 2022

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