Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102974
Authors: 
Hartwig, Jochen
Year of Publication: 
2013
Series/Report no.: 
KOF Working Papers, KOF Swiss Economic Institute, ETH Zurich 343
Abstract: 
The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well.
Subjects: 
Structural change
demand growth
productivity growth
employment dynamics
OECD panel data
JEL: 
C23
E12
E13
E20
O41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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