| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9386 |
| DP9386 Sectoral Technology and Structural Transformation | |
| Berthold Herrendorf; Akos Valentinyi | |
| 发表日期 | 2013-03-10 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | This paper assesses how structural transformation is affected by sectoral differences in labor-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for agriculture, manufacturing, and services on postwar US data and compare them with Cobb--Douglas production functions with different and with equal capital shares. We find that sectoral differences in labor-augmenting technological progress are the dominant force behind changes in sectoral labor and in relative prices. As a result, Cobb--Douglas production functions with equal capital shares (which by construction abstract from differences in capital intensity and the elasticity of substitution) capture the main economic forces on the technology side behind postwar US structural transformation. |
| 主题 | International Macroeconomics |
| 关键词 | Ces production function Cobb-douglas production function Elasticity of substitution Structural transformation |
| URL | https://cepr.org/publications/dp9386 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538222 |
| 推荐引用方式 GB/T 7714 | Berthold Herrendorf,Akos Valentinyi. DP9386 Sectoral Technology and Structural Transformation. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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