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A Non-Substitution Theorem with Non-Constant Returns to Scale and Externalities

Takao Fujimoto
Kagawa University - Faculty of Economics

José Silva Reus
Universidad de Alicante - Department of Economic Analysis

Antonio Villar
University of Alicante

Metroeconomica, Vol. 56, No. 1, pp. 25-36, February 2005

Abstract:
An input-output model with non-constant returns to scale and externalities is presented, and it is shown that in this model the non-substitution theorem is still valid. More precisely, the quantity side of the theorem, i.e. the proposition on efficiency, remains valid, while there can be no equilibrium prices independent of final demand.

Accepted Paper Series

Date posted: January 19, 2005 ; Last revised: February 03, 2005

Suggested Citation

Fujimoto, Takao, Silva Reus, José Angel and Villar, Antonio, A Non-Substitution Theorem with Non-Constant Returns to Scale and Externalities. Metroeconomica, Vol. 56, No. 1, pp. 25-36, February 2005. Available at SSRN: http://ssrn.com/abstract=650990

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Contact Information

Takao Fujimoto (Contact Author) Kagawa University - Faculty of Economics ( email ) 1-1, Saiwai Takamatsu 760-8521 Japan HOME PAGE: http://www.ec.kagawa-u.ac.jp/~takao/
José Angel Silva Reus Universidad de Alicante - Department of Economic Analysis ( email ) 03080 Alicante Spain +34 96 590 3400 x 3254 (Phone) +34 96 590 3898 (Fax)
Antonio Villar Notario University of Alicante ( email ) 03071 Alicante Spain

Abstract

References (29)

Date posted: January 19, 2005 ; Last revised: February 03, 2005

Suggested Citation

Contact Information

Takao Fujimoto (Contact Author)

José Angel Silva Reus

Antonio Villar Notario