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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 constant aggregate growth path. The conditions are weak restrictions on the...
Persistent link: https://www.econbiz.de/10010928655
that the very low unemployment in Europe in the 1960s was due to the high productivity growth associated with technological … catch-up. Productivity also played a role in the dynamics of hours but a full explanation for the fast rise of service …
Persistent link: https://www.econbiz.de/10010746048