Purpose - the purpose of our article is to study structural changes in the national economy using a portfolio model of sectors with different returns and, on this basis, processing the methodology for identifying the current state and instrumental factors of economic policy. Research methodology...

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...