Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/108234
Authors: 
Herrendorf, Berthold
Rogerson, Richard
Valentinyi, Akos
Year of Publication: 
2011
Series/Report no.: 
IEHAS Discussion Papers MT-DP - 2011/34
Abstract: 
We assess the empirical importance of income and price effects for structural transformation in the postwar US. We explain two natural approaches to the data: sectors may be categories of final expenditure or value added; e.g., the service sector may be the final expenditure on services or the value added from service industries. We estimate preferences for each approach and find that with final expenditure income effects are the dominant forces behind structural transformation whereas with value added categories price effects are dominant. We show how the input-output structure of the US economy can reconcile these findings.
Subjects: 
income effects
preferences
relative price effects
structural transformation
JEL: 
O11
O14
ISBN: 
978-615-5024-71-9
Document Type: 
Working Paper

Files in This Item:
File
Size
339.42 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.