Structural change in a multi-sector model of growth
By: by L. Rachel Ngai, Christopher A. Pissarides.
Series: Discussion paper ;; no. 1800; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1800
Publisher: IZA
Published: 2005
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Subjects: Structural adjustment (Economic policy); Economic development.
Description: "We study a multi-sector model of growth with differences in TFP growth rates across sectors and derive sufficient conditions for the coexistence of structural change, characterized by sectoral labor reallocation, and balanced aggregate growth. The conditions are weak restrictions on the utility and production functions commonly applied by macroeconomists. Per capita output grows at the rate of labor-augmenting technological progress in the capital-producing sector and employment moves to low-growth sectors. In the limit all employment converges to two sectors, the slowest-growing consumption-goods sector and the capital-goods sector"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 11/15/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.