Stijepic, Denis and Wagner, Helmut (2009): Kuznets-Kaldor-puzzle, neutral structural change and independent preferences and technologies.
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The Kuznets-Kaldor stylized facts are one of the most striking empirical regularities of the development process in 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 which can explain the Kuznets-Kaldor-puzzle by independent preferences and technologies. Furthermore, we show by empirical evidence that this explanation is in line with 55% of structural change in the USA between 1948 and 1987.
|Item Type:||MPRA Paper|
|Original Title:||Kuznets-Kaldor-puzzle, neutral structural change and independent preferences and technologies|
|Keywords:||Kaldor facts, Kuznets facts, structural change, factor reallocation, sectors, balanced growth, unbalanced growth|
|Subjects:||O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models
E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E13 - Neoclassical
D - Microeconomics > D1 - Household Behavior and Family Economics
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
|Depositing User:||Denis Stijepic|
|Date Deposited:||07. Mar 2012 13:06|
|Last Modified:||14. Feb 2013 12:26|
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