Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies

Iliadi, Fotoula and Mariolis, Theodore and Soklis, George and Tsoulfidis, Lefteris (2012): Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies.

Abstract

This paper tests Bienenfeld’s polynomial approximation of production prices using data from ten symmetric input-output tables of five European economies. The empirical results show that the quadratic formula works extremely well and its accuracy is connected to the actual distribution of the eigenvalues of the matrices of vertically integrated technical coefficients.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bienenfeld’s approximation; Damping ratio; Eigenvalue distribution; Empirical evidence; Production prices
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian; D - Microeconomics > D4 - Market Structure, Pricing, and Design > D46 - Value Theory; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D57 - Input-Output Tables and Analysis; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67 - Input-Output Models; E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E11 - Marxian ; Sraffian ; Kaleckian

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