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Different goods are produced by different sectors in an economy. The fact that sectors use different production technologies is named technology-bias. The technology-bias is well documented and has important theoretical implications for economic growth and unemployment. We provide a theoretical...
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The three-sector framework (relating to agriculture, manufacturing, and services) is one of the major concepts for studying the long-run dynamics of the economic structure. We summarize the empirical/theoretical literature consensus by formulating 'economic laws' of long-run structural change in...
Persistent link: https://www.econbiz.de/10011991414
The Kuznets-Kaldor stylized facts are one of the most striking empirical observations about the development process in the industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This...
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Traditional structural change theories study the dynamics of inter-sector labour-reallocation in autarky models. We analyse how model-results change if open economy setting is assumed, where we focus on the impacts of intermediate trade in a multi-sector growth model with capital accumulation....
Persistent link: https://www.econbiz.de/10013101588
This paper is devoted to the study of structural dynamics. The focus is on labor-allocation-dynamics in a tree-sector-economy. However, our approach can be applied to other types of structural change (e.g. income-distribution-dynamics). In contrast to the previous literature our assumptions are...
Persistent link: https://www.econbiz.de/10013074742
The mathematical literature has developed a large pool of topological concepts and theorems for dynamic systems analysis. The aim of our paper is to make a first step towards the application of these concepts and theorems in the analysis of (long-run) structural change (in the three-sector...
Persistent link: https://www.econbiz.de/10012944048