Hutschenreiter, Dennis C.; Santini, Tommaso; Vella, Eugenia - In: SERIEs : Journal of the Spanish Economic Association 13 (2022) 1, pp. 335-362
to a sectoral reallocation of employment from manufacturing to services, leaving total employment unaffected. We … (manufacturing). The service sector expands due to the sectoral complementarity in the production of the final good and a positive … wealth effect for the household. Analysis across steady states shows that the reduction in manufacturing employment can be …
