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Input-Output Models for Planning in a Mixed Economy - A New Approach
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The original input-output model as formulated by Professor Leontief was one of a general equilibrium type, popularly known as the closed version, described in condensed form below:
Let xl, X2, X3 be the outputs of three sectors in the economy Xl, x2 being intermediate sectors and X3 the household sector. Let Xij (i, j = 1,2,3) be the flows or deliveries from sector i to j in such a system. Then two sets of balance relations could be set up.
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