文章基本信息

标题：Balanced Growth With Structural Change
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作者：L. Rachel Ngai ; Christopher A. Pissarides
期刊名称：CEP Discussion Paper
出版年度：2004
卷号：2004
期号：apr
出版社：Centre for Economic Performance
摘要：We study a multi-sector model of growth with differences in TFP growth rates across sectors and derive sufficient conditions for the coexistence of a balanced aggregate growth path, with all aggregates growing at the same rate, and structural change, characterized by sectoral labor reallocation. The conditions needed are weak restrictions on the utility and production functions: goods should be poor substitutes and the intertemporal elasticity of substitution should be one. We present evidence from US and UK sectors, that is consistent with our conclusions and successfully calibrate the shift from agriculture to manufacturing and services in the United States.
关键词：structural change, balanced growth, total factor productivity