--economy model with endogenous productivity growth, demand driven output and income distribution as an important determinant of … equilibria for output, productivity and employment growth rates in the formal sector. In the long--run, the model allows for … multiple equilibria which can describe cases of (a) underdevelopment and structural heterogeneity or (b) sustained growth and …

Economic growth is driven by structural change. Structural change does not come without a cost, the most evident social … that the level of unemployment is different between the initial period and the long-run equilibrium growth path, and that …

We characterize several possible mechanisms of structural change by using a general multisector growth model, where … preferences and technologies are not parameterized. In this generic set up, we derive the growth rates of sectoral employment … substitution between capital and labor in each sector. These fundamentals determine the effect that the growth rates of aggregate …

existing applications of the resulting system-theoretical models in economics and, in particular, in economic growth and …

growth should have significant effects on macro variables, including economic growth. But these effects can be complicated …. The large size of the agricultural sector does not necessarily imply that it must be a leading sector for economic growth …. Expanding a low-productivity sector might not be unambiguously good for growth. Moreover, there are issues of reverse causation …