Structural change, aggregate demand and employment dynamics in the OECD, 1970 - 2010

The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well.

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Year of publication:	2013
Authors:	Hartwig, Jochen
Publisher:	Zurich : ETH Zurich, KOF Swiss Economic Institute
Subject:	Structural change \| demand growth \| productivity growth \| employment dynamics \| OECD panel data

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Series:	KOF Working Papers ; 343
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	10.3929/ethz-a-009992260 [DOI] 770879098 [GVK] hdl:10419/102974 [Handle]
Classification:	C23 - Models with Panel Data ; E12 - Keynes; Keynesian; Post-Keynesian ; E13 - Neoclassical ; E20 - Consumption, Saving, Production, Employment, and Investment. General ; O41 - One, Two, and Multisector Growth Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10010420575