Stijepic, Denis (2013): A geometrical approach to structural change modeling.
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Abstract
We propose a model for studying the dynamics of economic structures. The model is based on qualitative information regarding structural dynamics, in particular, (a) the information on the geometrical properties of trajectories (and their domains) which are studied in structural change theory and (b) the empirical information from stylized facts of structural change. We show that structural change is path-dependent in this model and use this fact to restrict the number of future structural change scenarios significantly. We focus on labour-allocation-dynamics in a tree-sector-economy. However, our approach can be applied to other types of structural change (e.g. income-distribution-dynamics).
Item Type: | MPRA Paper |
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Original Title: | A geometrical approach to structural change modeling |
Language: | English |
Keywords: | structure; dynamics; qualitative; geometrical; simplex; path-dependency |
Subjects: | C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis D - Microeconomics > D3 - Distribution O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models |
Item ID: | 55010 |
Depositing User: | Denis Stijepic |
Date Deposited: | 03 Apr 2014 10:59 |
Last Modified: | 27 Sep 2019 11:24 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/55010 |