Boppart, Timo; Weiss, Franziska J. - Institut für Volkswirtschaftslehre, … - 2013
Sectoral data features (i) changing relative expenditures of different sectors, (ii) non-constancy in relative prices and (iii) long-run trends in relative TFP growth rates across sectors. We provide a tractable theory of industry directed technical change, which is able to reconcile these...