Technische Universität Darmstadt >
Institut für Volkswirtschaftslehre, Technische Universität Darmstadt >
Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt >
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|Title:||Numerical explorations of the Ngai-Pissarides model of growth and structural change |
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.|
|Document Type:||Working Paper|
|Appears in Collections:||Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt|
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