We study the relation between income distribution and growth mediated by structural changes on the demand and supply side. Using results from a multi-sector growth model we compare two growth regimes which differ in three aspects: labour relations, competition, and consumption patterns. Regime...

The paper analyses the effect of the dynamics of consumption preferences on the dynamics of macroeconomic growth. We endogenously derive microdynamics of consumption behaviour as a result of the increase in the number of income classes. The different degrees of inertia in the adjustment of...

This paper uses a long time series of German employment data to test the theory of Ngai & Pissarides (2007). The theory suggests that the shift of employment shares from manufacturing to services is due to divergent growth rates of total factor productivity (TFP) in the two sectors. To test the...

This paper uses a long time series of German employment data to test the theory of Ngai & Pissarides (2007). The theory suggests that the shift of employment shares from manufacturing to services is due to divergent growth rates of total factor productivity (TFP) in the two sectors. To test the...

This paper attempts to enhance empirical understanding of the effects of structural-change variables on economic outcomes. The relationships between sectoral shares and (1) the speed of structural change and (2) economic growth were examined for a large panel of 111 economies over the period of...

This paper analyzes the structural change implications of consumer credit expansions in a dual-sector open economy growth model. Policy-induced increases in banks' willingness and ability to lend result in new consumer lending, boosting consumption demand and average wages in the nontradable...