Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/37229
Authors: 
Stijepic, Denis
Helmut, Wagner
Year of Publication: 
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

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