Ngai, L. Rachel; Pissarides, Christopher - London School of Economics (LSE) - 2005
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 … moves to low-growth sectors. In the limit all employment converges to two sectors, the slowest-growing consumption …