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Title:Numerical explorations of the Ngai-Pissarides model of growth and structural change PDF Logo
Authors:Dietrich, Andreas
Krüger, Jens J.
Issue Date:2010
Series/Report no.:Discussion papers in economics 199
Abstract:In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis we explore the dynamic properties of the model along the transition path to the steady-state equilibrium by numerical methods. Our explorations show that the model misses several stylized facts of structural change among these sectors. We propose several extensions of the model to align the model more closely with the facts.
Subjects:economic growth
structural change
transition path
JEL:L16
O14
O41
Document Type:Working Paper
Appears in Collections:Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt

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