Jones' hat algebra

 

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Jones' hat algebra

See hat algebra.



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Hat algebra

Hat algebra

The Jones (1965) technique for comparative static analysis in trade models. By totally differentiating a model in the logarithms of its variables, a linear system is obtained relating small proportional changes (denoted by carats (^), or "hats") in terms of various elasticities and shares. (The published article used *, not ^, because of typographical constraints.)




 
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