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Title:The Kuznets-Kaldor-Puzzle and Neutral Cross-Capital-Intensity Structural Change PDF Logo
Authors:Stijepic, Denis
Helmut, Wagner
Issue Date:2010
Series/Report no.:Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Convergence and Structural Change D5-V2
Abstract:The Kuznets-Kaldor stylized facts are one of the most striking empirical observations about the development process in the industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This implies that cross-technology factor reallocation has a relatively weak impact on the aggregates, which is a puzzle from a theoretical point of view. We provide a model that can explain this puzzle. Furthermore, we show by empirical evidence that this model is in line with 55% of structural change.
Subjects:neoclassical growth models
balanced growth
structural change
Kaldor facts
labor reallocation across sectors
sector technology
JEL:O14
O41
D11
Document Type:Conference Paper
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

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