| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21595 |
| 来源ID | Working Paper 21595 |
| Structural Change with Long-run Income and Price Effects | |
| Diego A. Comin; Danial Lashkari; Martí Mestieri | |
| 发表日期 | 2015-09-28 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We present a new multi-sector growth model that features nonhomothetic, constant-elasticity-of-substitution preferences, and accommodates long-run demand and supply drivers of structural change for an arbitrary number of sectors. The model is consistent with the decline in agriculture, the hump-shaped evolution of manufacturing, and the rise of services over time. We estimate the demand system derived from the model using household-level data from the U.S. and India, as well as historical aggregate-level panel data for 39 countries during the postwar period. The estimated model parsimoniously accounts for the broad patterns of sectoral reallocation observed among rich, miracle and developing economies. Our estimates support the presence of strong nonhomotheticity across time, income levels, and countries. We find that income effects account for the bulk of the within-country evolution of sectoral reallocation. |
| 主题 | Macroeconomics ; Consumption and Investment ; Development and Growth ; Development ; Growth and Productivity ; Country Studies |
| URL | https://www.nber.org/papers/w21595 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579270 |
| 推荐引用方式 GB/T 7714 | Diego A. Comin,Danial Lashkari,Martí Mestieri. 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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