Structural Change and the Kaldor Facts of Economic Growth

Arbeitspapier

We present a model in which two of the most important features of the long-run growth process are reconciled: the massive changes in the structure of production and employment; and the Kaldor facts of economic growth. We assume that households expand their consumption along a hierarchy of needs and firms introduce continuously new products. In equilibrium industries with an expanding and those with a declining employment share coexist, and each such industry goes (or has already gone) through a cycle of take-off, maturity, and stagnation. Nonetheless macroeconomic aggregates grow pari passu at a constant rate.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 472

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices ; Innovation and Invention: Processes and Incentives ; Macroeconomic Analyses of Economic Development ; Economic Growth and Aggregate Productivity: General ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
• Thema: Kaldor facts ; balanced growth ; structural change ; innovation ; hierarchic preferences ; demand externalities ; multiple equilibria ; Gleichgewichtiges Wachstum ; Strukturwandel ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Foellmi, Reto ; Zweimüller, Josef
• Ereignis: Veröffentlichung
• (wer): Institute for the Study of Labor (IZA)
• (wo): Bonn
• (wann): 2002

Weitere Informationen

• Handle: http://hdl.handle.net/10419/21485
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ