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The paper develops a growth model with evolutionary microfounded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the...
Persistent link: https://www.econbiz.de/10003740246
In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis...
Persistent link: https://www.econbiz.de/10008732111
We study the relation between income distribution and growth mediated by structural changes on the demand and supply side. Using results from a multi-sector growth model we compare two growth regimes which differ in three aspects: labour relations, competition, and consumption patterns. Regime...
Persistent link: https://www.econbiz.de/10012933695
Structural change is associated with high costs for the economy and the society ranging from environmental pollution to unemployment. We show that monotonous structural paths minimize the structural change costs in the three-sector framework (related to agriculture, manufacturing, and services),...
Persistent link: https://www.econbiz.de/10012934648
(manufacturers, merchants) are most active in lobbying for industrialization. Third, industrial concentration increases progressive … lobbying for industrialization in the British data. …
Persistent link: https://www.econbiz.de/10014545117
(manufacturers, merchants) are most active in lobbying for industrialization. Third, industrial concentration increases progressive … lobbying for industrialization in the British data. …
Persistent link: https://www.econbiz.de/10014557744
(manufacturers, merchants) are most active in lobbying for industrialization. Third, industrial concentration increases progressive … lobbying for industrialization in the British data. …
Persistent link: https://www.econbiz.de/10014575605
One of the most striking regularities of the growth process is the massive reallocation of labor from agriculture into industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts about economic growth. These...
Persistent link: https://www.econbiz.de/10014069276
Services, which are less traded than goods, rose from 58 percent of world expenditure in 1970 to 79 percent in 2015. In a trade model featuring nonhomothetic preferences and input-output linkages, we find that such structural change has restrained the growth in world trade to GDP by 16...
Persistent link: https://www.econbiz.de/10012852922
Services, which are less traded than goods, rose from 58 percent of world expenditure in 1970 to 79 percent in 2015. Using a Ricardian trade model incorporating endogenous structural change, we quantify how this substantial shift in consumption has affected trade. Without structural change, we...
Persistent link: https://www.econbiz.de/10013314999