Full text: Study week on the econometric approach to development planning

1066 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 
4 
where 
C 
{J 
according to Professor LEONTIEF’s definition of page 3. 
Then equation (2) must be written 
12’) 
dy, 8 
i —_ 5 h (9) 
instead of 
2) 
ayY- I 
— = 5 100) 
Now there is no doubt that the order of magnitude of § is 0.2 and 
not I as in equation 2 of the paper. If 0.2 instead of 1 is taken for 
8 the final results of the paper change very greatly. 
In fact the range which Prof. LEONTIEF has ‘considered for b is 
as follows: For b, 3.15 to 4.73 and b, 2.5 to 5.64, the range is about 
I to 2. But if we take the coefficient § equal to 0.2 into account the 
range which should be considered is five times greater since we must 
consider b/f that is 5 b instead of b. 
We must thus replace the coefficient b by the product b/ f=50b 
in the calculations which follow. and this changes the final results 
completely. 
13] Leontief - pag. 28
	        
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