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 language | English |
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Pages (from-to) | 662-666 |
Journal | Economics Bulletin |
Volume | 42 |
Publication status | Published - 30 Mar 2022 |