Structural Change in a Multisector Model of Growth

American Economic Review - Tập 97 Số 1 - Trang 429-443 - 2007
L. Rachel Ngai1, Christopher A. Pissarides2
1Centre for Economic Performance, London School of Economics and CEPR.
2Centre for Economic Performance, London School of Economics, CEPR, and IZA.

Tóm tắt

We study a multisector model of growth with differences in TFP growth rates across sectors and derive sufficient conditions for the coexistence of structural change, characterized by sectoral labor reallocation and balanced aggregate growth. The conditions are weak restrictions on the utility and production functions. Along the balanced growth path, labor employed in the production of consumption goods gradually moves to the sector with the lowest TFP growth rate, until in the limit it is the only sector with nontrivial employment of this kind. The employment shares of intermediate and capital goods remain constant during the reallocation process. (JEL O41)

Từ khóa


Tài liệu tham khảo

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Thông tin xuất bản

American Economic Review

Tập 97 Số 1

429-443

Thông tin tác giả