| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10846 |
| DP10846 Structural Change with Long-run Income and Price Effects | |
| diego comin; Marti Mestieri; Danial Lashkari | |
| 发表日期 | 2015-09-27 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We present a new multi-sector growth model that accommodates long-run demand and supply drivers of structural change. The model generates nonhomothetic Engel curves at all levels of development and is consistent with the decline in agriculture, the hump-shaped evolution of manufacturing and the rise of services over time. The economy converges to a constant aggregate growth rate that depends on sectoral income elasticities, capital intensities and rates of technological progress. We estimate the demand system derived from the model using historical data on sectoral employment shares from twenty-five countries and household survey data from the US. Our estimated model parsimoniously accounts for the broad patterns of sectoral reallocation observed among rich, miracle and developing economies in the post-war period. We find that income effects play a major role in generating structural change. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Structural transformation Nonhomothetic ces preferences Implicitly additively separable preferences |
| URL | https://cepr.org/publications/dp10846 |
| 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/539675 |
| 推荐引用方式 GB/T 7714 | diego comin,Marti Mestieri,Danial Lashkari. DP10846 Structural Change with Long-run Income and Price Effects. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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