Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89421
Authors: 
Lorentz, André
Savona, Maria
Year of Publication: 
2006
Series/Report no.: 
LEM Working Paper Series 2006/28
Abstract: 
The paper develops a growth model with evolutionary microfounded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the empirical stylised fact of the changes in the sectoral structure of the economy which have led to the growth of services in most advanced countries over the last decades. At the mesomacro level of analysis, we investigate whether the structural changes leading to the growth of services are mainly demand-led, both in terms of final consumption and intermediate demand. At the micro-level of analysis, we explore whether demand constraints affect the degree of exploitation of technological opportunities. The simulated results are based on the use of the actual InputOutput coefficients in the case of Germany. Four scenarios have been identified, which account for the effects of a set of key parameters on the changes in the structure of the economy.
Subjects: 
Economic Growth
Structural change
Growth of Services
Evolutionary Microfoundation
Input-Output
JEL: 
E11
L16
O14
O33
O41
Document Type: 
Working Paper

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