| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26181 |
| 来源ID | Working Paper 26181 |
| Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective. | |
| Kjetil Storesletten; Bo Zhao; Fabrizio Zilibotti | |
| 发表日期 | 2019-08-26 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP. During booms, employment in agriculture declines while labor productivity increases in agriculture more than in other sectors. We construct a unified theory of business cycles and structural change consistent with the stylized facts. The focal point of the theory is the simultaneous decline and modernization of agriculture. As capital accumulates, agriculture becomes increasingly capital intensive as modern agriculture crowds out traditional agriculture. Structural change accelerates in booms and slows down in recessions. We estimate the model and show that it accounts well for both the structural transformation and the business cycle fluctuations of China. |
| 主题 | Macroeconomics ; Business Cycles ; Development and Growth ; Development ; Growth and Productivity ; Country Studies ; Environmental and Resource Economics ; Agriculture |
| URL | https://www.nber.org/papers/w26181 |
| 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/583853 |
| 推荐引用方式 GB/T 7714 | Kjetil Storesletten,Bo Zhao,Fabrizio Zilibotti. Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26181.pdf（864KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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