At present, monetary models of equilibrium prices have received a very wide and varied application. In this paper it is proved that the application of the currently existing monetary models of the intersectoral balance is associated with significant methodical errors. It is shown that price models based on the input balance provides such a balance only in unreal cases when the prices of all sectors are the same. For realistic conditions, when these requirements are not met, errors for these models reach unacceptable values. This article proposes and thoroughly investigated new price models based on output balances which do not have the said drawbacks. It is mathematically proven that the new models satisfy the output balances and do not have methodical errors. When used, they provide zero output imbalances for both theoretical and realistic data packets. Also in the paper the calculation results are presented both for the existing monetary models of input-output balance and for new price models using a wide set of initial data. The calculations performed confirm the theoretical conclusions of the article. It is also proved that the Leontief price model is a special case of the generalized model of price indices proposed in the work.
| Published in | Economics (Volume 10, Issue 4) |
| DOI | 10.11648/j.eco.20211004.13 |
| Page(s) | 125-138 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2021. Published by Science Publishing Group |
Price Model, Leontief Model, Generalized Price Indices Model, Input Balance, Output Balance, Error
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APA Style
Kulyk Mykhailo. (2021). Analysis and Development of Price Models in the System MEANS of Intersectoral Balance. Economics, 10(4), 125-138. https://doi.org/10.11648/j.eco.20211004.13
ACS Style
Kulyk Mykhailo. Analysis and Development of Price Models in the System MEANS of Intersectoral Balance. Economics. 2021, 10(4), 125-138. doi: 10.11648/j.eco.20211004.13
AMA Style
Kulyk Mykhailo. Analysis and Development of Price Models in the System MEANS of Intersectoral Balance. Economics. 2021;10(4):125-138. doi: 10.11648/j.eco.20211004.13
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Download@article{10.11648/j.eco.20211004.13,
author = {Kulyk Mykhailo},
title = {Analysis and Development of Price Models in the System MEANS of Intersectoral Balance},
journal = {Economics},
volume = {10},
number = {4},
pages = {125-138},
doi = {10.11648/j.eco.20211004.13},
url = {https://doi.org/10.11648/j.eco.20211004.13},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.eco.20211004.13},
abstract = {At present, monetary models of equilibrium prices have received a very wide and varied application. In this paper it is proved that the application of the currently existing monetary models of the intersectoral balance is associated with significant methodical errors. It is shown that price models based on the input balance provides such a balance only in unreal cases when the prices of all sectors are the same. For realistic conditions, when these requirements are not met, errors for these models reach unacceptable values. This article proposes and thoroughly investigated new price models based on output balances which do not have the said drawbacks. It is mathematically proven that the new models satisfy the output balances and do not have methodical errors. When used, they provide zero output imbalances for both theoretical and realistic data packets. Also in the paper the calculation results are presented both for the existing monetary models of input-output balance and for new price models using a wide set of initial data. The calculations performed confirm the theoretical conclusions of the article. It is also proved that the Leontief price model is a special case of the generalized model of price indices proposed in the work.},
year = {2021}
}
TY - JOUR T1 - Analysis and Development of Price Models in the System MEANS of Intersectoral Balance AU - Kulyk Mykhailo Y1 - 2021/11/27 PY - 2021 N1 - https://doi.org/10.11648/j.eco.20211004.13 DO - 10.11648/j.eco.20211004.13 T2 - Economics JF - Economics JO - Economics SP - 125 EP - 138 PB - Science Publishing Group SN - 2376-6603 UR - https://doi.org/10.11648/j.eco.20211004.13 AB - At present, monetary models of equilibrium prices have received a very wide and varied application. In this paper it is proved that the application of the currently existing monetary models of the intersectoral balance is associated with significant methodical errors. It is shown that price models based on the input balance provides such a balance only in unreal cases when the prices of all sectors are the same. For realistic conditions, when these requirements are not met, errors for these models reach unacceptable values. This article proposes and thoroughly investigated new price models based on output balances which do not have the said drawbacks. It is mathematically proven that the new models satisfy the output balances and do not have methodical errors. When used, they provide zero output imbalances for both theoretical and realistic data packets. Also in the paper the calculation results are presented both for the existing monetary models of input-output balance and for new price models using a wide set of initial data. The calculations performed confirm the theoretical conclusions of the article. It is also proved that the Leontief price model is a special case of the generalized model of price indices proposed in the work. VL - 10 IS - 4 ER -
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